Congress Wealth Management LLC DE Sells 86,758 Shares of Onto Innovation Inc. (NYSE:ONTO)

Congress Wealth Management LLC DE lessened its holdings in Onto Innovation Inc. (NYSE:ONTO) by 64.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 47,302 shares of the semiconductor company’s stock after selling 86,758 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Onto Innovation were worth $7,884,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of ONTO. Cerity Partners LLC raised its position in Onto Innovation by 287.0% in the third quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock worth $968,000 after acquiring 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 valued at $173,401,000 after purchasing an additional 13,405 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Onto Innovation by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock valued at $416,863,000 after purchasing an additional 228,800 shares during the period. HighTower Advisors LLC increased its position 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 during the last quarter. Finally, Barclays PLC raised its stake in shares of Onto Innovation by 1,296.7% in the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock valued at $45,079,000 after buying an additional 201,640 shares during the period. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Trading Down 1.8 %

ONTO stock opened at $138.43 on Wednesday. The company’s 50 day moving average is $169.61 and its 200 day moving average is $179.92. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of 34.10, a price-to-earnings-growth 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.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, beating 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%. As a group, sell-side analysts forecast that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Insider Transactions at Onto Innovation

In other news, SVP Srinivas Vedula sold 827 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now owns 15,223 shares of the company’s stock, valued at approximately $3,120,715. This represents a 5.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the transaction, the chief executive officer now owns 185,492 shares in the company, valued at approximately $39,183,330.08. The trade was 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 worth $18,182,185. 0.72% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ONTO shares. Benchmark reissued a “buy” rating and issued a $230.00 price objective 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 on the stock in a research report on Friday, February 7th. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Oppenheimer dropped their price objective on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Finally, StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. One equities research 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, the stock has a consensus rating of “Moderate Buy” and an average 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.