Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC cut its stake in Onto Innovation Inc. (NYSE:ONTO) by 18.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,033 shares of the semiconductor company’s stock after selling 2,281 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Onto Innovation were worth $1,672,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Cerity Partners LLC lifted its stake 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 valued at $968,000 after purchasing an additional 3,458 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Onto Innovation by 21.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,316 shares of the semiconductor company’s stock valued at $2,764,000 after buying an additional 2,311 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Onto Innovation by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 134,123 shares of the semiconductor company’s stock worth $27,839,000 after acquiring an additional 1,530 shares during the period. Hilltop Holdings Inc. purchased a new stake in shares of Onto Innovation during the 3rd quarter worth about $253,000. Finally, HighTower Advisors LLC grew its position in shares of Onto Innovation by 72.0% during the 3rd quarter. HighTower Advisors LLC now owns 10,184 shares of the semiconductor company’s stock valued at $2,095,000 after acquiring an additional 4,263 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on ONTO shares. Stifel Nicolaus set a $200.00 price target on Onto Innovation and gave the stock a “buy” rating in a research report on Friday, March 28th. StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Jefferies Financial Group cut their price target on shares of Onto Innovation from $245.00 to $175.00 and set a “buy” rating for the company in a report on Friday, March 28th. Oppenheimer dropped their target price on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Finally, Benchmark reissued a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $231.88.

Insider Buying and Selling at Onto Innovation

In other news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction that occurred 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 $3,120,715. This represents a 5.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael P. Plisinski sold 20,000 shares of Onto Innovation stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the sale, the chief executive officer now directly owns 215,492 shares in the company, valued at approximately $43,139,343.48. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 85,827 shares of company stock worth $18,182,185 in the last three months. 0.72% of the stock is owned by corporate insiders.

Onto Innovation Trading Up 2.1 %

NYSE:ONTO opened at $125.69 on Thursday. The company has a market cap of $6.19 billion, a P/E ratio of 30.96, a P/E/G ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a twelve month low of $116.16 and a twelve month high of $238.93. The company’s 50-day moving average price is $158.75 and its 200-day moving average price is $177.30.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates 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 expect that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

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.