US Bancorp DE Sells 2,505 Shares of Onto Innovation Inc. (NYSE:ONTO)

US Bancorp DE trimmed its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 19.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,107 shares of the semiconductor company's stock after selling 2,505 shares during the period. US Bancorp DE's holdings in Onto Innovation were worth $1,685,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. UMB Bank n.a. lifted its holdings in shares of Onto Innovation by 22.8% during the 4th quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company's stock valued at $66,000 after acquiring an additional 74 shares in the last quarter. Northwest & Ethical Investments L.P. grew its stake 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 valued at $218,000 after buying an additional 76 shares in the last quarter. CIBC Asset Management Inc raised its holdings 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 valued at $256,000 after buying an additional 81 shares during the period. Huntington National Bank lifted its position in Onto Innovation by 26.3% during the 3rd quarter. Huntington National Bank now owns 423 shares of the semiconductor company's stock worth $88,000 after acquiring an additional 88 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC boosted its holdings in 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 worth $403,000 after acquiring an additional 90 shares during the period. 98.35% of the stock is owned by hedge funds and other institutional investors.

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Onto Innovation Trading Up 0.9 %

ONTO stock traded up $1.08 during mid-day trading on Tuesday, reaching $124.58. 1,023,416 shares of the stock traded hands, compared to its average volume of 1,052,394. Onto Innovation Inc. has a 52-week low of $121.47 and a 52-week high of $238.93. The stock's fifty day moving average is $180.46 and its 200-day moving average is $184.99. The company has a market cap of $6.14 billion, a P/E ratio of 30.68, a P/E/G ratio of 0.89 and a beta of 1.29.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (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%. Equities research analysts expect that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Insider Transactions at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the business's stock in a transaction dated Wednesday, January 15th. The stock was 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 of the company's stock, valued at $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael P. Plisinski sold 30,000 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $211.24, for a total value of $6,337,200.00. Following the transaction, the chief executive officer now owns 185,492 shares in the company, valued at approximately $39,183,330.08. This trade represents a 13.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,827 shares of company stock valued at $18,182,185 over the last three months. 0.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ONTO. Stifel Nicolaus reduced their target price on shares of Onto Innovation from $270.00 to $250.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Cantor Fitzgerald reissued an "overweight" rating and issued a $250.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Benchmark restated a "buy" rating and set a $230.00 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. Finally, Needham & Company LLC restated a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Onto Innovation presently has a consensus rating of "Moderate Buy" and a consensus target price of $246.88.

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.