Oppenheimer Asset Management Inc. Cuts Position in Onto Innovation Inc. (NYSE:ONTO)

Oppenheimer Asset Management Inc. reduced its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 81.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,198 shares of the semiconductor company's stock after selling 27,071 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Onto Innovation were worth $1,033,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ONTO. Cerity Partners LLC raised its position 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 worth $968,000 after acquiring an additional 3,458 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Onto Innovation by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company's stock worth $173,401,000 after acquiring an additional 13,405 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Onto Innovation by 12.9% in the 3rd 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 in the last quarter. Natixis Advisors LLC raised its position in shares of Onto Innovation by 3.4% in the 3rd quarter. Natixis Advisors LLC now owns 253,600 shares of the semiconductor company's stock worth $52,637,000 after acquiring an additional 8,456 shares in the last quarter. Finally, Geneva Capital Management LLC raised its position in shares of Onto Innovation by 2.6% in the 3rd quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company's stock worth $195,032,000 after acquiring an additional 23,628 shares in the last quarter. 98.35% of the stock is owned by institutional investors.

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Onto Innovation Stock Down 1.0 %

ONTO stock traded down $1.38 during mid-day trading on Friday, reaching $132.88. 1,311,111 shares of the company traded hands, compared to its average volume of 1,041,302. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of 32.73, a P/E/G ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a fifty-two week low of $127.54 and a fifty-two week high of $238.93. The firm's 50 day moving average price is $181.34 and its 200 day moving average price is $185.97.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, topping 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 anticipate that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Analysts Set New Price Targets

ONTO has been the subject of several research analyst reports. Oppenheimer lowered their price objective on Onto Innovation from $275.00 to $240.00 and set an "outperform" rating for the company in a research report on Thursday, February 20th. Cantor Fitzgerald restated an "overweight" rating and issued a $250.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. StockNews.com upgraded Onto Innovation from a "sell" rating to a "hold" rating in a research note on Thursday, February 27th. Benchmark restated a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Finally, Stifel Nicolaus reduced their target price on Onto Innovation from $270.00 to $250.00 and set a "buy" rating for the company in a research note 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $246.88.

Insiders Place Their Bets

In related news, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the sale, the senior vice president now owns 15,223 shares of the company's stock, valued at approximately $3,120,715. The trade was 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 35,000 shares of Onto Innovation stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the completion of the sale, the chief executive officer now directly owns 150,492 shares in the company, valued at $32,986,341.48. This trade represents a 18.87 % 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 in the last 90 days. 0.72% of the stock is currently owned by corporate insiders.

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.