Corebridge Financial Inc. Sells 2,515 Shares of Onto Innovation Inc. (NYSE:ONTO)

Corebridge Financial Inc. trimmed its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,029 shares of the semiconductor company’s stock after selling 2,515 shares during the period. Corebridge Financial Inc. owned about 0.11% of Onto Innovation worth $9,338,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Onto Innovation by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company’s stock worth $861,040,000 after acquiring an additional 76,233 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of 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. State Street Corp increased its stake in shares of Onto Innovation by 2.8% in the third quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company’s stock worth $305,107,000 after buying an additional 39,367 shares during the period. Franklin Resources Inc. raised its holdings in Onto Innovation by 4.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company’s stock valued at $288,320,000 after buying an additional 54,868 shares during the last quarter. Finally, Geneva Capital Management LLC boosted its position in Onto Innovation by 7.6% during the 4th quarter. Geneva Capital Management LLC now owns 1,010,691 shares of the semiconductor company’s stock valued at $168,452,000 after buying an additional 71,050 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Benchmark reaffirmed a “buy” rating and set 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 for the company in a report on Thursday, February 20th. Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Finally, Stifel Nicolaus dropped their price target on Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, February 7th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $246.88.

Onto Innovation Trading Down 4.1 %

ONTO opened at $133.13 on Thursday. The company has a market cap of $6.56 billion, a price-to-earnings ratio of 32.79, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. The stock has a fifty day simple moving average of $168.16 and a two-hundred day simple moving average of $179.59. Onto Innovation Inc. has a 12-month low of $121.47 and a 12-month high of $238.93.

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

Insider Activity

In other news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the sale, the senior vice president now directly owns 15,223 shares of the company’s stock, valued at approximately $3,120,715. This represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 150,492 shares of the company’s stock, valued at approximately $32,986,341.48. This represents a 18.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,827 shares of company stock worth $18,182,185. Insiders own 0.72% of the company’s stock.

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.