Wealthspire Advisors LLC Cuts Holdings in Onto Innovation Inc. (NYSE:ONTO)

Wealthspire Advisors LLC cut its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 9.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,549 shares of the semiconductor company’s stock after selling 155 shares during the quarter. Wealthspire Advisors LLC’s holdings in Onto Innovation were worth $258,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ONTO. Cerity Partners LLC increased its stake in Onto Innovation by 287.0% during the 3rd quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock worth $968,000 after buying an additional 3,458 shares during the period. Geode Capital Management LLC boosted its stake in Onto Innovation by 1.6% during the 3rd 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 period. JPMorgan Chase & Co. boosted its stake in Onto Innovation by 12.9% during the 3rd 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 period. Natixis Advisors LLC raised its position in Onto Innovation by 3.4% during the 3rd quarter. Natixis Advisors LLC now owns 253,600 shares of the semiconductor company’s stock worth $52,637,000 after buying an additional 8,456 shares during the last quarter. Finally, Geneva Capital Management LLC raised its position in Onto Innovation by 2.6% during the 3rd quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company’s stock worth $195,032,000 after buying an additional 23,628 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ONTO shares. Oppenheimer cut 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. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research report on Thursday. Benchmark reissued a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Jefferies Financial Group cut their price target on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $246.88.

Insider Buying and Selling at Onto Innovation

In other news, CEO Michael P. Plisinski sold 35,000 shares of the company’s 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 transaction, the chief executive officer now owns 150,492 shares in the company, valued at $32,986,341.48. This represents a 18.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Srinivas Vedula sold 827 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 15,223 shares in the company, valued at $3,120,715. This represents a 5.15 % 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 valued at $18,182,185. 0.72% of the stock is currently owned by corporate insiders.

Onto Innovation Stock Down 5.7 %

Shares of NYSE ONTO opened at $145.43 on Friday. Onto Innovation Inc. has a fifty-two week low of $145.15 and a fifty-two week high of $238.93. The firm’s 50-day simple moving average is $185.47 and its 200 day simple moving average is $188.76. The stock has a market cap of $7.18 billion, a P/E ratio of 35.82, a P/E/G ratio of 0.89 and a beta of 1.31.

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