Onto Innovation Inc. (NYSE:ONTO) Stock Holdings Lessened by Royce & Associates LP

Royce & Associates LP cut its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 1.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 219,648 shares of the semiconductor company's stock after selling 3,510 shares during the quarter. Royce & Associates LP owned about 0.44% of Onto Innovation worth $36,609,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kestra Investment Management LLC bought a new stake in shares of Onto Innovation during the fourth quarter valued at approximately $26,000. Mather Group LLC. increased its position in Onto Innovation by 209.4% in the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company's stock valued at $27,000 after acquiring an additional 111 shares during the period. Versant Capital Management Inc raised its stake in Onto Innovation by 532.4% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company's stock valued at $39,000 after acquiring an additional 197 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Onto Innovation during the 4th quarter worth $43,000. Finally, Berbice Capital Management LLC bought a new position in shares of Onto Innovation in the fourth quarter worth $50,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus cut their price objective on shares of Onto Innovation from $270.00 to $250.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Oppenheimer dropped their price target on shares of Onto Innovation from $275.00 to $240.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. Benchmark reiterated a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Needham & Company LLC reissued a "buy" rating and set a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $250.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Onto Innovation currently has an average rating of "Moderate Buy" and an average target price of $246.88.

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Insider Activity

In related news, SVP Srinivas Vedula sold 827 shares of the company's 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 completion of the sale, the senior vice president now owns 15,223 shares in the company, valued at approximately $3,120,715. This represents a 5.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael P. Plisinski sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the completion of the transaction, the chief executive officer now directly owns 215,492 shares of the company's stock, valued at $43,139,343.48. This represents a 8.49 % decrease in their position. 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 three months. Insiders own 0.72% of the company's stock.

Onto Innovation Trading Down 0.1 %

ONTO stock traded down $0.07 on Thursday, hitting $137.55. 501,803 shares of the company's stock traded hands, compared to its average volume of 690,557. The stock has a market cap of $6.78 billion, a price-to-earnings ratio of 33.88, a P/E/G ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a 1-year low of $121.47 and a 1-year high of $238.93. The stock has a fifty day moving average of $174.05 and a 200-day moving average of $181.46.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its quarterly earnings data 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%. On average, equities research analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

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.