Alberta Investment Management Corp Decreases Position in Onto Innovation Inc. (NYSE:ONTO)

Alberta Investment Management Corp reduced its stake in Onto Innovation Inc. (NYSE:ONTO) by 37.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,619 shares of the semiconductor company’s stock after selling 7,560 shares during the period. Alberta Investment Management Corp’s holdings in Onto Innovation were worth $2,103,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its holdings in shares of Onto Innovation by 28,066.7% during the third quarter. Blue Trust Inc. now owns 845 shares of the semiconductor company’s stock worth $186,000 after purchasing an additional 842 shares during the last quarter. Raymond James & Associates grew its stake in Onto Innovation by 106.7% during the 3rd quarter. Raymond James & Associates now owns 23,324 shares of the semiconductor company’s stock worth $4,841,000 after buying an additional 12,040 shares during the last quarter. Signaturefd LLC increased its position in Onto Innovation by 33.2% during the third quarter. Signaturefd LLC now owns 999 shares of the semiconductor company’s stock worth $207,000 after buying an additional 249 shares during the period. Eastern Bank acquired a new position in Onto Innovation during the third quarter worth approximately $65,000. Finally, Private Advisor Group LLC boosted its holdings in shares of Onto Innovation by 17.1% in the third quarter. Private Advisor Group LLC now owns 2,195 shares of the semiconductor company’s stock valued at $455,000 after acquiring an additional 321 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on ONTO shares. Benchmark reaffirmed a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Jefferies Financial Group decreased their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Needham & Company LLC reissued a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Finally, StockNews.com downgraded Onto Innovation from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $246.88.

Onto Innovation Stock Down 4.7 %

Shares of NYSE:ONTO opened at $159.23 on Friday. Onto Innovation Inc. has a 52 week low of $145.15 and a 52 week high of $238.93. The company has a 50-day moving average price of $187.06 and a 200 day moving average price of $189.46. The company has a market cap of $7.86 billion, a P/E ratio of 39.22, a PEG ratio of 0.90 and a beta of 1.31.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share 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%. Analysts expect that Onto Innovation Inc. will post 6.32 EPS for the current year.

Insider Transactions at Onto Innovation

In related news, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction 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 directly owns 15,223 shares of the company’s stock, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael P. Plisinski sold 35,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total value of $7,671,650.00. Following the sale, the chief executive officer now owns 150,492 shares in the company, valued at approximately $32,986,341.48. The trade was a 18.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,827 shares of company stock valued at $18,182,185 in the last ninety days. 0.72% of the stock is currently owned by company insiders.

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.