Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 26.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,127 shares of the semiconductor company's stock after selling 29,332 shares during the period. Envestnet Asset Management Inc. owned about 0.16% of Onto Innovation worth $13,355,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Commonwealth Equity Services LLC raised its holdings in Onto Innovation by 1.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 16,083 shares of the semiconductor company's stock valued at $2,680,000 after acquiring an additional 225 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company's stock worth $416,863,000 after acquiring an additional 228,800 shares during the last quarter. Barclays PLC increased its position in Onto Innovation by 1,296.7% during the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company's stock worth $45,079,000 after purchasing an additional 201,640 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its stake in Onto Innovation by 40.2% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 140,455 shares of the semiconductor company's stock worth $23,410,000 after purchasing an additional 40,290 shares during the period. Finally, Argent Capital Management LLC purchased a new position in Onto Innovation during the fourth quarter worth approximately $437,000. Hedge funds and other institutional investors own 98.35% of the company's stock.

Onto Innovation Trading Down 4.9 %

ONTO opened at $114.54 on Thursday. Onto Innovation Inc. has a twelve month low of $98.21 and a twelve month high of $238.93. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of 28.21, a PEG ratio of 0.89 and a beta of 1.46. The company has a fifty day simple moving average of $138.51 and a 200 day simple moving average of $170.59.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, beating 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%. On average, analysts forecast that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on ONTO shares. Oppenheimer dropped their price objective on Onto Innovation from $240.00 to $150.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Stifel Nicolaus reduced their price objective on Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a research note on Tuesday. Needham & Company LLC restated a "buy" rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. StockNews.com upgraded shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Thursday, February 27th. Finally, Jefferies Financial Group cut their target price on shares of Onto Innovation from $245.00 to $175.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $218.13.

Insiders Place Their Bets

In other news, CEO Michael P. Plisinski sold 35,000 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were 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 owns 150,492 shares in the company, valued at approximately $32,986,341.48. This represents a 18.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.