Onto Innovation Inc. (NYSE:ONTO) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 57.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,625 shares of the semiconductor company's stock after selling 3,495 shares during the quarter. SG Americas Securities LLC's holdings in Onto Innovation were worth $438,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Congress Asset Management Co. grew its position in Onto Innovation by 38.1% in the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company's stock valued at $222,670,000 after acquiring an additional 295,869 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Onto Innovation by 811.7% in the third 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 period. JPMorgan Chase & Co. grew its holdings in Onto Innovation by 12.9% during 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 in the last quarter. Barclays PLC lifted its holdings in Onto Innovation by 1,296.7% in the 3rd quarter. Barclays PLC now owns 217,190 shares of the semiconductor company's stock worth $45,079,000 after buying an additional 201,640 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Onto Innovation in the 3rd quarter worth $30,418,000. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Michael P. Plisinski sold 35,000 shares of the firm's stock in a transaction 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 transaction, the chief executive officer now directly owns 150,492 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Srinivas Vedula sold 827 shares of the company's stock in a transaction dated 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 sale, the senior vice president now directly owns 15,223 shares of the company's stock, valued at $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 90 days, insiders sold 85,827 shares of company stock worth $18,182,185. Insiders own 0.72% of the company's stock.

Onto Innovation Price Performance

Shares of NYSE ONTO traded up $1.16 during mid-day trading on Thursday, hitting $210.86. The company had a trading volume of 1,404,218 shares, compared to its average volume of 901,293. Onto Innovation Inc. has a 12 month low of $145.15 and a 12 month high of $238.93. The stock has a market cap of $10.41 billion, a price-to-earnings ratio of 57.14, a PEG ratio of 1.06 and a beta of 1.31. The firm's 50 day simple moving average is $184.54 and its two-hundred day simple moving average is $190.24.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. Equities analysts forecast that Onto Innovation Inc. will post 5.22 earnings per share for the current year.

Wall Street Analyst Weigh In

ONTO has been the topic of a number of analyst reports. Benchmark reaffirmed a "buy" rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday, November 1st. Cantor Fitzgerald initiated coverage on Onto Innovation in a report on Monday, January 13th. They set an "overweight" rating and a $250.00 price objective on the stock. Jefferies Financial Group reduced their target price on Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Oppenheimer restated an "outperform" rating and issued a $275.00 price target on shares of Onto Innovation in a research note on Tuesday, December 17th. Finally, Needham & Company LLC cut their price target on shares of Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $253.75.

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.