Osterweis Capital Management Inc. Reduces Holdings in Onto Innovation Inc. (NYSE:ONTO)

Osterweis Capital Management Inc. reduced its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 20.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,647 shares of the semiconductor company's stock after selling 8,050 shares during the quarter. Osterweis Capital Management Inc. owned 0.06% of Onto Innovation worth $5,108,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ONTO. Kestra Investment Management LLC purchased a new stake in Onto Innovation in the 4th quarter worth $26,000. Mather Group LLC. grew its position in shares of Onto Innovation by 209.4% in the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 111 shares during the period. Versant Capital Management Inc increased its stake in shares of 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 purchasing an additional 197 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Onto Innovation during the 4th quarter worth about $43,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in Onto Innovation in the 4th quarter valued at about $47,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Michael P. Plisinski sold 35,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was 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 directly owns 150,492 shares in the company, valued at approximately $32,986,341.48. This trade represents a 18.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ONTO. Benchmark restated a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a report on Thursday, February 27th. Cantor Fitzgerald reissued an "overweight" rating and issued a $250.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Jefferies Financial Group cut their price objective on shares of Onto Innovation from $245.00 to $175.00 and set a "buy" rating for the company in a report on Friday, March 28th. Finally, Needham & Company LLC restated a "buy" rating and issued a $230.00 price target 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 issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $218.13.

Onto Innovation Price Performance

Shares of ONTO stock traded up $0.03 during trading on Friday, hitting $114.92. 613,059 shares of the stock traded hands, compared to its average volume of 793,315. Onto Innovation Inc. has a 52-week low of $98.21 and a 52-week high of $238.93. The firm has a market capitalization of $5.61 billion, a P/E ratio of 28.30, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46. The firm's fifty day moving average price is $135.91 and its 200-day moving average price is $169.08.

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, beating analysts' consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. As a group, equities research analysts expect that Onto Innovation Inc. will post 6.26 earnings per share for the current 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.