Fisher Asset Management LLC Reduces Holdings in Onto Innovation Inc. (NYSE:ONTO)

Fisher Asset Management LLC decreased its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 2.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 694,739 shares of the semiconductor company’s stock after selling 16,602 shares during the period. Fisher Asset Management LLC owned approximately 1.41% of Onto Innovation worth $115,792,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. UMB Bank n.a. boosted its position in Onto Innovation by 22.8% in the 4th quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock worth $66,000 after purchasing an additional 74 shares in the last quarter. Northwest & Ethical Investments L.P. raised its stake in shares of Onto Innovation by 7.8% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 1,050 shares of the semiconductor company’s stock worth $218,000 after buying an additional 76 shares during the period. CIBC Asset Management Inc raised its stake in shares of Onto Innovation by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company’s stock worth $256,000 after buying an additional 81 shares during the period. Huntington National Bank raised its stake in shares of Onto Innovation by 26.3% during the 3rd quarter. Huntington National Bank now owns 423 shares of the semiconductor company’s stock worth $88,000 after buying an additional 88 shares during the period. Finally, Hunter Perkins Capital Management LLC raised its stake in shares of Onto Innovation by 3.9% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 2,415 shares of the semiconductor company’s stock worth $403,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insider Activity

In related news, SVP Srinivas Vedula sold 827 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 15,223 shares in the company, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael P. Plisinski sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The stock was 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 owns 215,492 shares of the company’s stock, valued at $43,139,343.48. The trade was a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 85,827 shares of company stock valued at $18,182,185. 0.72% of the stock is currently owned by company insiders.

Onto Innovation Price Performance

Onto Innovation stock opened at $145.60 on Friday. The stock’s 50-day moving average is $185.04 and its 200-day moving average is $188.35. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 35.86, a price-to-earnings-growth ratio of 0.89 and a beta of 1.31. Onto Innovation Inc. has a 12 month low of $141.50 and a 12 month high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. Research analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a research note on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $250.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Benchmark reaffirmed 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 Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Finally, Needham & Company LLC restated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a report 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $246.88.

Onto Innovation Company 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.