Stephens Investment Management Group LLC Sells 130,470 Shares of Onto Innovation Inc. (NYSE:ONTO)

Stephens Investment Management Group LLC lessened its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 31.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 289,390 shares of the semiconductor company’s stock after selling 130,470 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Onto Innovation were worth $48,233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ONTO. Congress Asset Management Co. boosted its stake in Onto Innovation by 38.1% during the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after buying an additional 295,869 shares in the last quarter. Citigroup Inc. increased its stake in 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 acquiring an additional 284,115 shares during the period. JPMorgan Chase & Co. raised its position in Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after purchasing an additional 228,800 shares in the last quarter. Barclays PLC lifted its stake in Onto Innovation by 1,296.7% during the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock worth $45,079,000 after purchasing an additional 201,640 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in Onto Innovation during the third quarter valued at approximately $30,418,000. 98.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on ONTO shares. Jefferies Financial Group cut their target price on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Benchmark reissued a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday. Stifel Nicolaus lowered their target price on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Friday. Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 price target on shares of Onto Innovation in a report on Friday. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $275.00 price objective on shares of Onto Innovation in a research note on Tuesday, December 17th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Onto Innovation currently has a consensus rating of “Moderate Buy” and a consensus target price of $251.25.

Insiders Place Their Bets

In related news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the transaction, the senior vice president now directly owns 15,223 shares in the company, valued at $3,120,715. This represents a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael P. Plisinski sold 30,000 shares of Onto Innovation stock in a transaction on 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 sale, the chief executive officer now directly owns 185,492 shares of the company’s stock, valued at $39,183,330.08. This represents a 13.92 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 85,827 shares of company stock valued at $18,182,185. 0.72% of the stock is currently owned by insiders.

Onto Innovation Price Performance

ONTO opened at $187.81 on Friday. The stock has a market capitalization of $9.28 billion, a P/E ratio of 46.26, a price-to-earnings-growth ratio of 1.09 and a beta of 1.31. The company’s 50 day simple moving average is $186.01 and its 200-day simple moving average is $190.24. Onto Innovation Inc. has a one year low of $145.15 and a one year high of $238.93.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.41% and a net margin of 20.43%. As a group, analysts anticipate that Onto Innovation Inc. will post 6.46 EPS for the current 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.