Orion Portfolio Solutions LLC Has $1.67 Million Position in Onto Innovation Inc. (NYSE:ONTO)

Orion Portfolio Solutions LLC decreased its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 18.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,033 shares of the semiconductor company's stock after selling 2,281 shares during the period. Orion Portfolio Solutions LLC's holdings in Onto Innovation were worth $1,672,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Cerity Partners LLC raised its stake in shares of Onto Innovation by 287.0% in the 3rd quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company's stock valued at $968,000 after acquiring an additional 3,458 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Onto Innovation by 21.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,316 shares of the semiconductor company's stock worth $2,764,000 after buying an additional 2,311 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Onto Innovation by 1.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 134,123 shares of the semiconductor company's stock valued at $27,839,000 after acquiring an additional 1,530 shares during the period. Hilltop Holdings Inc. acquired a new position in Onto Innovation in the 3rd quarter valued at approximately $253,000. Finally, HighTower Advisors LLC lifted its position in shares of Onto Innovation by 72.0% in the 3rd quarter. HighTower Advisors LLC now owns 10,184 shares of the semiconductor company's stock worth $2,095,000 after acquiring an additional 4,263 shares during the period. Institutional investors and hedge funds own 98.35% of the company's stock.

Onto Innovation Price Performance

Shares of NYSE:ONTO traded up $7.23 during midday trading on Monday, reaching $111.67. The company's stock had a trading volume of 1,868,866 shares, compared to its average volume of 755,537. The business's fifty day simple moving average is $153.01 and its 200-day simple moving average is $175.40. Onto Innovation Inc. has a fifty-two week low of $98.21 and a fifty-two week high of $238.93. The company has a market capitalization of $5.50 billion, a P/E ratio of 27.50, a P/E/G ratio of 0.89 and a beta of 1.46.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its quarterly earnings data 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 net margin of 20.43% and a return on equity of 14.24%. On average, analysts forecast that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Insider Activity at Onto Innovation

In related news, CEO Michael P. Plisinski sold 20,000 shares of Onto Innovation stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total value of $4,003,800.00. Following the completion of the sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Srinivas Vedula sold 827 shares of the business's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the sale, the senior vice president now directly 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 disclosure for this sale can be found here. Insiders sold a total of 85,827 shares of company stock valued at $18,182,185 over the last quarter. Corporate insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Jefferies Financial Group dropped their price target on shares of Onto Innovation from $245.00 to $175.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Needham & Company LLC reissued a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. StockNews.com upgraded Onto Innovation from a "sell" rating to a "hold" rating in a research report on Thursday, February 27th. Benchmark reiterated a "buy" rating and issued a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Stifel Nicolaus set a $200.00 price objective on Onto Innovation and gave the company a "buy" rating in a report on Friday, March 28th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $231.88.

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.