Harvest Fund Management Co. Ltd Cuts Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Harvest Fund Management Co. Ltd lowered its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 43.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,199 shares of the semiconductor company’s stock after selling 924 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Onto Innovation were worth $200,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ONTO. UMB Bank n.a. raised its stake in shares of Onto Innovation by 22.8% in the 4th quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock valued at $66,000 after acquiring an additional 74 shares during the period. Northwest & Ethical Investments L.P. raised its stake in shares of Onto Innovation by 7.8% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 1,050 shares of the semiconductor company’s stock valued at $218,000 after acquiring an additional 76 shares during the period. CIBC Asset Management Inc raised its stake in shares of Onto Innovation by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company’s stock valued at $256,000 after acquiring an additional 81 shares during the period. Hunter Perkins Capital Management LLC raised its stake in shares of Onto Innovation by 3.9% in the 4th quarter. Hunter Perkins Capital Management LLC now owns 2,415 shares of the semiconductor company’s stock valued at $403,000 after acquiring an additional 90 shares during the period. Finally, Alpha DNA Investment Management LLC raised its stake in shares of Onto Innovation by 4.5% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 2,137 shares of the semiconductor company’s stock valued at $444,000 after acquiring an additional 93 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Michael P. Plisinski sold 20,000 shares of Onto Innovation stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 215,492 shares of the company’s stock, valued at approximately $43,139,343.48. The trade was a 8.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction dated Wednesday, January 15th. The shares were 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 $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 valued at $18,182,185 in the last ninety days. Corporate insiders own 0.72% of the company’s stock.

Onto Innovation Price Performance

Shares of ONTO stock opened at $135.73 on Friday. The firm has a market cap of $6.69 billion, a P/E ratio of 33.43, a P/E/G ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a 1-year low of $121.47 and a 1-year high of $238.93. The firm has a fifty day moving average of $171.89 and a two-hundred day moving average of $180.58.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. On average, sell-side analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current year.

Wall Street Analyst Weigh In

ONTO has been the topic of a number of research reports. Needham & Company LLC reissued a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Oppenheimer lowered their price target on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Benchmark reaffirmed a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Stifel Nicolaus lowered their price target on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a report on Friday, February 7th. Finally, StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $246.88.

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.