Sequoia Financial Advisors LLC Sells 6,093 Shares of Onto Innovation Inc. (NYSE:ONTO)

Sequoia Financial Advisors LLC lowered its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 30.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,020 shares of the semiconductor company's stock after selling 6,093 shares during the period. Sequoia Financial Advisors LLC's holdings in Onto Innovation were worth $2,337,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. UMB Bank n.a. lifted its stake in shares of Onto Innovation by 22.8% in the 4th quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company's stock valued at $66,000 after purchasing an additional 74 shares during the last quarter. Northwest & Ethical Investments L.P. lifted its position in shares of Onto Innovation by 7.8% in the third quarter. Northwest & Ethical Investments L.P. now owns 1,050 shares of the semiconductor company's stock worth $218,000 after buying an additional 76 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Onto Innovation by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company's stock worth $256,000 after acquiring an additional 81 shares in the last quarter. Huntington National Bank increased its holdings in shares of Onto Innovation by 26.3% during the 3rd quarter. Huntington National Bank now owns 423 shares of the semiconductor company's stock valued at $88,000 after acquiring an additional 88 shares during the last quarter. Finally, Hunter Perkins Capital Management LLC raised its stake in shares of Onto Innovation by 3.9% in the 4th quarter. Hunter Perkins Capital Management LLC now owns 2,415 shares of the semiconductor company's stock valued at $403,000 after acquiring an additional 90 shares in the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity at Onto Innovation

In related news, CEO Michael P. Plisinski sold 35,000 shares of the business's 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 owns 150,492 shares of the company's stock, valued at $32,986,341.48. The trade was a 18.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the transaction, the senior vice president now 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 have sold a total of 85,827 shares of company stock valued at $18,182,185 over the last quarter. 0.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ONTO shares. Oppenheimer decreased their target price 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. StockNews.com upgraded shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Thursday, February 27th. Benchmark restated a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $250.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Finally, Needham & Company LLC restated a "buy" rating and set a $230.00 target price on shares of Onto Innovation in a research note 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $246.88.

Onto Innovation Trading Up 1.8 %

ONTO traded up $2.45 on Wednesday, hitting $137.45. 531,701 shares of the stock traded hands, compared to its average volume of 690,009. The business has a fifty day moving average price of $175.14 and a two-hundred day moving average price of $181.77. Onto Innovation Inc. has a 52 week low of $121.47 and a 52 week high of $238.93. The firm has a market capitalization of $6.77 billion, a PE ratio of 33.85, a P/E/G ratio of 0.89 and a beta of 1.29.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued 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 return on equity of 14.24% and a net margin of 20.43%. On average, equities research analysts forecast that Onto Innovation Inc. will post 6.26 EPS 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.