Sequoia Financial Advisors LLC Has $2.34 Million Position in Onto Innovation Inc. (NYSE:ONTO)

Sequoia Financial Advisors LLC cut its position in Onto Innovation Inc. (NYSE:ONTO) by 30.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,020 shares of the semiconductor company’s stock after selling 6,093 shares during the period. Sequoia Financial Advisors LLC’s holdings in Onto Innovation were worth $2,337,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Cerity Partners LLC raised its holdings in shares of Onto Innovation by 287.0% in the 3rd quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock worth $968,000 after purchasing an additional 3,458 shares during the period. Geode Capital Management LLC lifted its stake in Onto Innovation by 1.6% in the third quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company’s stock worth $173,401,000 after purchasing an additional 13,405 shares during the last quarter. JPMorgan Chase & Co. lifted its stake 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 during the last quarter. Natixis Advisors LLC raised its stake in shares of Onto Innovation by 3.4% during the third quarter. Natixis Advisors LLC now owns 253,600 shares of the semiconductor company’s stock valued at $52,637,000 after acquiring an additional 8,456 shares during the last quarter. Finally, HighTower Advisors LLC raised its stake in Onto Innovation by 72.0% in the third quarter. HighTower Advisors LLC now owns 10,184 shares of the semiconductor company’s stock worth $2,095,000 after buying an additional 4,263 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Stock Performance

Shares of ONTO stock opened at $138.72 on Friday. Onto Innovation Inc. has a 1 year low of $121.47 and a 1 year high of $238.93. The stock’s 50-day moving average is $177.40 and its two-hundred day moving average is $183.19. The firm has a market cap of $6.83 billion, a price-to-earnings ratio of 34.17, a PEG ratio of 0.89 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current year.

Insider Activity at Onto Innovation

In other news, CEO Michael P. Plisinski sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the completion of the transaction, the chief executive officer now directly owns 150,492 shares of the company’s stock, valued at $32,986,341.48. This trade represents a 18.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the firm’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 transaction, the senior vice president now directly owns 15,223 shares of the company’s stock, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,827 shares of company stock worth $18,182,185 over the last 90 days. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Stifel Nicolaus decreased their price target 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. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Finally, Benchmark reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Onto Innovation currently has an average rating of “Moderate Buy” and a consensus price target of $246.88.

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.