Stephens Investment Management Group LLC Sells 130,470 Shares of Onto Innovation Inc. (NYSE:ONTO)

Stephens Investment Management Group LLC lessened its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 31.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 289,390 shares of the semiconductor company's stock after selling 130,470 shares during the quarter. Stephens Investment Management Group LLC owned 0.59% of Onto Innovation worth $48,233,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Congress Asset Management Co. increased its holdings in Onto Innovation by 38.1% during the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company's stock worth $222,670,000 after purchasing an additional 295,869 shares in the last quarter. Citigroup Inc. lifted its stake in Onto Innovation by 811.7% in the 3rd quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company's stock valued at $66,236,000 after purchasing an additional 284,115 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Onto Innovation by 12.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company's stock valued at $416,863,000 after purchasing an additional 228,800 shares during the last quarter. Barclays PLC lifted its stake in Onto Innovation by 1,296.7% in the 3rd quarter. Barclays PLC now owns 217,190 shares of the semiconductor company's stock valued at $45,079,000 after purchasing an additional 201,640 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Onto Innovation in the 3rd quarter valued at about $30,418,000. Institutional investors and hedge funds own 98.35% of the company's stock.

Insider Transactions at Onto Innovation

In related news, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation stock in a transaction on 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 transaction, the chief executive officer now owns 150,492 shares in the company, valued at $32,986,341.48. This trade represents a 18.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction on 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 transaction, the senior vice president now owns 15,223 shares in the company, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,827 shares of company stock valued at $18,182,185. Insiders own 0.72% of the company's stock.

Onto Innovation Trading Down 4.2 %

Shares of ONTO stock traded down $7.37 during trading hours on Wednesday, hitting $168.61. 1,503,455 shares of the company were exchanged, compared to its average volume of 981,311. The firm has a fifty day simple moving average of $186.33 and a 200 day simple moving average of $189.90. Onto Innovation Inc. has a 52-week low of $145.15 and a 52-week high of $238.93. The stock has a market capitalization of $8.33 billion, a price-to-earnings ratio of 41.53, a P/E/G ratio of 1.09 and a beta of 1.31.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS 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 14.41%. Sell-side analysts anticipate that Onto Innovation Inc. will post 6.46 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $250.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. 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. StockNews.com downgraded shares of Onto Innovation from a "hold" rating to a "sell" rating in a research report on Tuesday. Stifel Nicolaus dropped their price target on shares of Onto Innovation from $270.00 to $250.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Finally, Jefferies Financial Group dropped their price target on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Onto Innovation presently has a consensus rating of "Moderate Buy" and a consensus target price of $251.25.

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.