Mount Yale Investment Advisors LLC Reduces Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Mount Yale Investment Advisors LLC lessened its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 53.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,327 shares of the semiconductor company's stock after selling 2,691 shares during the period. Mount Yale Investment Advisors LLC's holdings in Onto Innovation were worth $388,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cerity Partners LLC increased its stake in Onto Innovation by 287.0% during the 3rd quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company's stock valued at $968,000 after purchasing an additional 3,458 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Onto Innovation by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company's stock valued at $173,401,000 after acquiring an additional 13,405 shares during the period. JPMorgan Chase & Co. increased its position in shares of Onto Innovation by 12.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company's stock valued at $416,863,000 after acquiring an additional 228,800 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Onto Innovation during the 3rd quarter worth about $14,539,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Onto Innovation by 675.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company's stock worth $27,000 after acquiring an additional 108 shares during the period. Institutional investors and hedge funds own 98.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Needham & Company LLC cut their price objective on Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Oppenheimer restated an "outperform" rating and set a $275.00 price objective on shares of Onto Innovation in a research note on Tuesday, December 17th. Jefferies Financial Group dropped their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Cantor Fitzgerald began coverage on shares of Onto Innovation in a report on Monday, January 13th. They set an "overweight" rating and a $250.00 target price for the company. Finally, Benchmark reaffirmed a "buy" rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $253.75.

Onto Innovation Trading Down 0.1 %

Shares of Onto Innovation stock traded down $0.11 during trading hours on Friday, reaching $205.07. The stock had a trading volume of 842,732 shares, compared to its average volume of 798,853. The stock's 50 day moving average is $182.12 and its 200 day moving average is $190.55. Onto Innovation Inc. has a twelve month low of $145.15 and a twelve month high of $238.93. The firm has a market capitalization of $10.13 billion, a PE ratio of 55.57, a PEG ratio of 0.99 and a beta of 1.29.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.03. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The company had revenue of $252.20 million during the quarter, compared to analysts' expectations of $250.85 million. During the same quarter in the prior year, the firm posted $0.96 EPS. Onto Innovation's quarterly revenue was up 21.7% compared to the same quarter last year. As a group, sell-side analysts predict that Onto Innovation Inc. will post 5.22 earnings per share for the current year.

Insider Activity

In related news, SVP Srinivas Vedula sold 827 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total transaction of $169,535.00. Following the completion of the sale, the senior vice president now directly owns 15,223 shares in the company, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael P. Plisinski sold 20,000 shares of the firm's stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total value of $4,003,800.00. Following the completion of the transaction, the chief executive officer now owns 215,492 shares in the company, valued at $43,139,343.48. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock worth $18,182,185 in the last quarter. Corporate insiders own 0.72% of the company's stock.

Onto Innovation Profile

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also offers process and yield management solutions, and device packaging and test facilities through standalone systems for optical metrology, macro-defect inspection, packaging lithography, and transparent and opaque thin film measurements.