Corient Private Wealth LLC Sells 2,011 Shares of Onto Innovation Inc. (NYSE:ONTO)

Corient Private Wealth LLC trimmed its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 14.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,349 shares of the semiconductor company's stock after selling 2,011 shares during the quarter. Corient Private Wealth LLC's holdings in Onto Innovation were worth $2,058,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Kestra Investment Management LLC purchased a new position in Onto Innovation during the fourth quarter valued at $26,000. Mather Group LLC. grew its position in Onto Innovation by 209.4% during the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company's stock worth $27,000 after buying an additional 111 shares during the period. Versant Capital Management Inc increased its stake in Onto Innovation by 532.4% during the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company's stock worth $39,000 after acquiring an additional 197 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Onto Innovation in the 4th quarter worth about $43,000. Finally, Berbice Capital Management LLC acquired a new position in Onto Innovation in the fourth quarter worth approximately $50,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Stifel Nicolaus set a $200.00 price target on Onto Innovation and gave the company a "buy" rating in a research note on Friday. Needham & Company LLC reiterated a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Benchmark reissued a "buy" rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Oppenheimer reduced their price objective on shares of Onto Innovation from $275.00 to $240.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $250.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Onto Innovation currently has a consensus rating of "Moderate Buy" and an average price target of $231.88.

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Insider Transactions at Onto Innovation

In related news, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction dated 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 owns 15,223 shares in the company, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael P. Plisinski sold 20,000 shares of the business's stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the sale, the chief executive officer now owns 215,492 shares in the company, valued at $43,139,343.48. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock valued at $18,182,185 over the last ninety days. 0.72% of the stock is owned by company insiders.

Onto Innovation Price Performance

Shares of NYSE ONTO traded down $6.43 during midday trading on Friday, hitting $121.99. 979,804 shares of the company's stock were exchanged, compared to its average volume of 735,792. The company has a market cap of $6.01 billion, a PE ratio of 30.05, a P/E/G ratio of 0.89 and a beta of 1.29. The firm's fifty day simple moving average is $166.46 and its 200-day simple moving average is $179.24. Onto Innovation Inc. has a twelve month low of $120.20 and a twelve month high of $238.93.

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

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.