Yousif Capital Management LLC Cuts Holdings in Onto Innovation Inc. (NYSE:ONTO)

Yousif Capital Management LLC lessened its stake in Onto Innovation Inc. (NYSE:ONTO) by 4.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,366 shares of the semiconductor company’s stock after selling 799 shares during the period. Yousif Capital Management LLC’s holdings in Onto Innovation were worth $2,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of 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 acquiring an additional 228,800 shares in the last quarter. State Street Corp grew its holdings in 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 purchasing an additional 39,367 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Onto Innovation by 4.5% during the third quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company’s stock worth $288,320,000 after purchasing an additional 54,868 shares in the last quarter. Congress Asset Management Co. increased its position in shares of Onto Innovation by 38.1% during the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after purchasing an additional 295,869 shares in the last quarter. Finally, Geneva Capital Management LLC lifted its holdings in shares of Onto Innovation by 2.6% during the 3rd quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company’s stock valued at $195,032,000 after purchasing an additional 23,628 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Onto Innovation news, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation stock in a transaction on Tuesday, January 21st. The shares were 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 owns 150,492 shares of the company’s stock, valued at approximately $32,986,341.48. The trade was a 18.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 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. Insiders have sold a total of 85,827 shares of company stock valued at $18,182,185 over the last ninety days. Company insiders own 0.72% of the company’s stock.

Onto Innovation Trading Down 10.8 %

ONTO opened at $187.81 on Monday. Onto Innovation Inc. has a 12-month low of $145.15 and a 12-month high of $238.93. The firm has a 50 day moving average of $186.01 and a two-hundred day moving average of $190.08. The firm has a market capitalization of $9.28 billion, a PE ratio of 46.26, a P/E/G ratio of 1.09 and a beta of 1.31.

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 net margin of 20.43% and a return on equity of 14.41%. As a group, analysts predict that Onto Innovation Inc. will post 6.46 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on ONTO. Jefferies Financial Group reduced their target price on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Benchmark restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday. Stifel Nicolaus dropped their target price on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $275.00 price target on shares of Onto Innovation in a report on Tuesday, December 17th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Onto Innovation presently has a consensus rating of “Moderate Buy” and a consensus price target of $251.25.

Onto Innovation 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.