Alliance Wealth Advisors LLC UT Cuts Position in Onto Innovation Inc. (NYSE:ONTO)

Alliance Wealth Advisors LLC UT trimmed its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 5.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,445 shares of the semiconductor company’s stock after selling 83 shares during the period. Alliance Wealth Advisors LLC UT’s holdings in Onto Innovation were worth $241,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Jennison Associates LLC increased its position in Onto Innovation by 32.3% during the 4th quarter. Jennison Associates LLC now owns 3,052 shares of the semiconductor company’s stock valued at $509,000 after buying an additional 745 shares in the last quarter. Deepwater Asset Management LLC grew its stake in shares of Onto Innovation by 43.9% in the fourth quarter. Deepwater Asset Management LLC now owns 95,325 shares of the semiconductor company’s stock worth $15,888,000 after acquiring an additional 29,084 shares during the last quarter. Gagnon Securities LLC increased its holdings in shares of Onto Innovation by 8.4% during the fourth quarter. Gagnon Securities LLC now owns 1,457 shares of the semiconductor company’s stock valued at $243,000 after acquiring an additional 113 shares in the last quarter. Swedbank AB increased its holdings in shares of Onto Innovation by 138.8% during the fourth quarter. Swedbank AB now owns 197,000 shares of the semiconductor company’s stock valued at $32,834,000 after acquiring an additional 114,500 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Onto Innovation by 65.6% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 5,819 shares of the semiconductor company’s stock worth $970,000 after purchasing an additional 2,305 shares during the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Onto Innovation Stock Performance

Shares of NYSE:ONTO opened at $200.94 on Wednesday. The stock’s 50-day simple moving average is $182.80 and its two-hundred day simple moving average is $190.07. The stock has a market capitalization of $9.92 billion, a price-to-earnings ratio of 54.45, a PEG ratio of 1.06 and a beta of 1.31. Onto Innovation Inc. has a 52-week low of $145.15 and a 52-week high of $238.93.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Benchmark restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, November 1st. Cantor Fitzgerald initiated coverage on shares of Onto Innovation in a research report on Monday, January 13th. They set an “overweight” rating and a $250.00 price target for the company. Jefferies Financial Group lowered their price objective on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Needham & Company LLC reduced their target price on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $275.00 price target on shares of Onto Innovation in a report on Tuesday, December 17th. One investment 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 company has an average rating of “Moderate Buy” and an average price target of $253.75.

Insider Buying and Selling

In other news, CEO Michael P. Plisinski sold 30,000 shares of Onto Innovation stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $211.24, for a total transaction of $6,337,200.00. Following the transaction, the chief executive officer now directly owns 185,492 shares of the company’s stock, valued at $39,183,330.08. The trade was a 13.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the 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 sale, the senior vice president now directly 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. Over the last quarter, insiders have sold 85,827 shares of company stock valued at $18,182,185. 0.72% of the stock is owned by insiders.

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.