Shaker Investments LLC OH Trims Stake in Onto Innovation Inc. (NYSE:ONTO)

Shaker Investments LLC OH reduced its stake in Onto Innovation Inc. (NYSE:ONTO) by 22.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,925 shares of the semiconductor company’s stock after selling 1,152 shares during the quarter. Shaker Investments LLC OH’s holdings in Onto Innovation were worth $654,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ONTO. JPMorgan Chase & Co. raised its position in shares of 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 during the period. State Street Corp increased its stake in Onto Innovation by 2.8% in the 3rd quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company’s stock worth $305,107,000 after buying an additional 39,367 shares in the last quarter. Franklin Resources Inc. raised its holdings in Onto Innovation by 4.5% during the third quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company’s stock valued at $288,320,000 after acquiring an additional 54,868 shares during the period. Congress Asset Management Co. lifted its position in shares of 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. Finally, Geneva Capital Management LLC boosted its stake in shares of Onto Innovation by 2.6% in the third quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company’s stock worth $195,032,000 after acquiring an additional 23,628 shares during the period. Institutional investors own 98.35% of the company’s stock.

Insider Transactions at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 15,223 shares in the company, 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 link. Also, CEO Michael P. Plisinski sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total value of $4,003,800.00. Following the transaction, the chief executive officer now directly owns 215,492 shares in the company, valued at approximately $43,139,343.48. This represents a 8.49 % 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. 0.72% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ONTO has been the topic of several recent analyst reports. Benchmark reissued a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday. Needham & Company LLC reiterated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday. Stifel Nicolaus dropped their target price on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Friday. Jefferies Financial Group reduced their price target on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, Oppenheimer reiterated an “outperform” rating and issued a $275.00 price target on shares of Onto Innovation in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $251.25.

Onto Innovation Stock Down 1.9 %

Shares of NYSE:ONTO opened at $183.40 on Tuesday. The firm has a fifty day simple moving average of $186.01 and a two-hundred day simple moving average of $190.03. Onto Innovation Inc. has a 52 week low of $145.15 and a 52 week high of $238.93. The stock has a market capitalization of $9.06 billion, a P/E ratio of 45.17, a PEG ratio of 1.09 and a beta of 1.31.

Onto Innovation (NYSE:ONTO) last released its quarterly 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 14.41% and a net margin of 20.43%. On average, analysts expect that Onto Innovation Inc. will post 6.46 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.