Onto Innovation Inc. (NYSE:ONTO) Shares Sold by M&T Bank Corp

M&T Bank Corp reduced its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 17.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,584 shares of the semiconductor company's stock after selling 2,687 shares during the period. M&T Bank Corp's holdings in Onto Innovation were worth $2,098,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Cerity Partners LLC increased its holdings in Onto Innovation by 287.0% in the 3rd quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company's stock worth $968,000 after buying an additional 3,458 shares during the period. Geode Capital Management LLC increased its stake in shares of Onto Innovation by 1.6% in the third quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company's stock worth $173,401,000 after acquiring an additional 13,405 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Onto Innovation by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company's stock worth $416,863,000 after purchasing an additional 228,800 shares during the last quarter. Natixis Advisors LLC lifted its position in Onto Innovation by 3.4% during the third quarter. Natixis Advisors LLC now owns 253,600 shares of the semiconductor company's stock valued at $52,637,000 after purchasing an additional 8,456 shares during the period. Finally, Geneva Capital Management LLC boosted its holdings in Onto Innovation by 2.6% in the third quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company's stock valued at $195,032,000 after purchasing an additional 23,628 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

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Onto Innovation Stock Performance

Shares of NYSE:ONTO traded up $0.48 during trading on Thursday, reaching $134.47. The stock had a trading volume of 1,274,117 shares, compared to its average volume of 1,056,636. Onto Innovation Inc. has a 1-year low of $121.47 and a 1-year high of $238.93. The stock has a market cap of $6.63 billion, a PE ratio of 33.12, a PEG ratio of 0.89 and a beta of 1.29. The business has a fifty day moving average price of $178.96 and a 200-day moving average price of $184.01.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. Sell-side analysts expect that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Insider Transactions at Onto Innovation

In related news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the transaction, the senior vice president now owns 15,223 shares of the company's stock, valued at $3,120,715. This represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total value of $7,671,650.00. Following the sale, the chief executive officer now directly owns 150,492 shares of the company's stock, valued at $32,986,341.48. This trade represents a 18.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,827 shares of company stock worth $18,182,185 over the last ninety days. Company insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

ONTO has been the subject of several recent research reports. StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Oppenheimer lowered their target price on shares of Onto Innovation from $275.00 to $240.00 and set an "outperform" rating on the stock in a research note on Thursday, February 20th. Cantor Fitzgerald restated an "overweight" rating and issued a $250.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Finally, Stifel Nicolaus lowered their price target on Onto Innovation from $270.00 to $250.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Onto Innovation presently has an average rating of "Moderate Buy" and a consensus target price of $246.88.

About Onto Innovation

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.