Bank of New York Mellon Corp Lowers Holdings in Onto Innovation Inc. (NYSE:ONTO)

Bank of New York Mellon Corp lessened its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 521,440 shares of the semiconductor company's stock after selling 7,625 shares during the period. Bank of New York Mellon Corp owned 1.06% of Onto Innovation worth $86,908,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Private Advisor Group LLC grew its stake in Onto Innovation by 17.1% during the third quarter. Private Advisor Group LLC now owns 2,195 shares of the semiconductor company's stock worth $455,000 after purchasing an additional 321 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Onto Innovation by 67.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,733 shares of the semiconductor company's stock worth $567,000 after buying an additional 1,105 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Onto Innovation by 7.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 5,710 shares of the semiconductor company's stock valued at $1,185,000 after acquiring an additional 385 shares in the last quarter. US Bancorp DE boosted its stake in Onto Innovation by 185.4% during the third quarter. US Bancorp DE now owns 12,612 shares of the semiconductor company's stock worth $2,618,000 after acquiring an additional 8,193 shares in the last quarter. Finally, Stephens Inc. AR boosted its stake in Onto Innovation by 25.8% during the third quarter. Stephens Inc. AR now owns 1,391 shares of the semiconductor company's stock worth $289,000 after acquiring an additional 285 shares in the last quarter. Institutional investors own 98.35% of the company's stock.

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Insider Activity

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the business's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction of $169,535.00. Following the sale, the senior vice president now owns 15,223 shares of the company's stock, valued at $3,120,715. The trade was a 5.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael P. Plisinski sold 30,000 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $211.24, for a total value of $6,337,200.00. Following the sale, the chief executive officer now owns 185,492 shares in the company, valued at approximately $39,183,330.08. This represents a 13.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,827 shares of company stock valued at $18,182,185 over the last quarter. Company insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. StockNews.com upgraded Onto Innovation from a "sell" rating to a "hold" rating in a research note on Thursday, February 27th. Oppenheimer cut their target price on Onto Innovation from $275.00 to $240.00 and set an "outperform" rating on the stock in a report on Thursday, February 20th. Needham & Company LLC restated a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Stifel Nicolaus dropped their price objective on shares of Onto Innovation from $270.00 to $250.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Finally, Benchmark restated a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $246.88.

Onto Innovation Stock Down 4.3 %

Onto Innovation stock traded down $5.98 during trading on Thursday, hitting $134.19. The stock had a trading volume of 309,882 shares, compared to its average volume of 1,012,817. The stock's 50 day moving average is $182.87 and its two-hundred day moving average is $186.90. Onto Innovation Inc. has a 1 year low of $129.53 and a 1 year high of $238.93. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 33.00, a price-to-earnings-growth ratio of 0.89 and a beta of 1.31.

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

Onto Innovation Company 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.