Sequoia Financial Advisors LLC Lowers Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Sequoia Financial Advisors LLC reduced its position in Onto Innovation Inc. (NYSE:ONTO) by 30.3% in the 4th quarter, Holdings Channel reports. The fund owned 14,020 shares of the semiconductor company’s stock after selling 6,093 shares during the period. Sequoia Financial Advisors LLC’s holdings in Onto Innovation were worth $2,337,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. UMB Bank n.a. grew its stake in shares of Onto Innovation by 22.8% during the 4th quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock valued at $66,000 after buying an additional 74 shares during the period. Northwest & Ethical Investments L.P. lifted its holdings in Onto Innovation by 7.8% in 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 in the last quarter. CIBC Asset Management Inc lifted its holdings in Onto Innovation by 5.6% in 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 in the last quarter. Huntington National Bank lifted its holdings in Onto Innovation by 26.3% in 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 in the last quarter. Finally, Hunter Perkins Capital Management LLC lifted its holdings in Onto Innovation by 3.9% in 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 in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Stock Performance

Shares of Onto Innovation stock opened at $138.72 on Friday. The firm has a market cap of $6.83 billion, a PE ratio of 34.17, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. The firm’s 50-day simple moving average is $177.40 and its 200-day simple moving average is $183.19. Onto Innovation Inc. has a 1 year low of $121.47 and a 1 year high of $238.93.

Onto Innovation (NYSE:ONTO) last issued 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 net margin of 20.43% and a return on equity of 14.24%. On average, equities analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Insider Activity at Onto Innovation

In related news, CEO Michael P. Plisinski sold 35,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the completion of the sale, the chief executive officer now owns 150,492 shares of the company’s stock, valued at $32,986,341.48. This represents a 18.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders sold a total of 85,827 shares of company stock valued at $18,182,185 in the last quarter. Insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ONTO shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Oppenheimer cut their price objective on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Benchmark reiterated a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Finally, StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Onto Innovation presently has an average rating of “Moderate Buy” and a consensus target price 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.