Corebridge Financial Inc. Cuts Holdings in Onto Innovation Inc. (NYSE:ONTO)

Corebridge Financial Inc. lowered its holdings in Onto Innovation Inc. (NYSE:ONTO) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,029 shares of the semiconductor company’s stock after selling 2,515 shares during the quarter. Corebridge Financial Inc.’s holdings in Onto Innovation were worth $9,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Onto Innovation by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company’s stock worth $861,040,000 after buying an additional 76,233 shares during the last quarter. Bridge City Capital LLC raised its holdings in shares of Onto Innovation by 1.0% during the fourth quarter. Bridge City Capital LLC now owns 8,165 shares of the semiconductor company’s stock valued at $1,361,000 after purchasing an additional 78 shares during the last quarter. LPL Financial LLC lifted its position in Onto Innovation by 35.3% during the fourth quarter. LPL Financial LLC now owns 35,672 shares of the semiconductor company’s stock valued at $5,945,000 after purchasing an additional 9,310 shares during the period. Fox Run Management L.L.C. lifted its position in Onto Innovation by 108.3% during the fourth quarter. Fox Run Management L.L.C. now owns 8,766 shares of the semiconductor company’s stock valued at $1,461,000 after purchasing an additional 4,558 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in Onto Innovation in the 4th quarter worth approximately $1,671,000. 98.35% of the stock is owned by institutional investors.

Onto Innovation Trading Down 4.1 %

Onto Innovation stock opened at $133.13 on Thursday. Onto Innovation Inc. has a 12-month low of $121.47 and a 12-month high of $238.93. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of 32.79, a P/E/G ratio of 0.89 and a beta of 1.29. The firm has a 50 day moving average of $168.16 and a 200 day moving average of $179.59.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, beating the consensus estimate 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 predict that Onto Innovation Inc. will post 6.26 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Oppenheimer cut their price target on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Stifel Nicolaus lowered their price objective on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Finally, Benchmark restated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.88.

Insider Buying and Selling at Onto Innovation

In related news, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total transaction of $169,535.00. Following the sale, the senior vice president now owns 15,223 shares of the company’s stock, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael P. Plisinski sold 35,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 150,492 shares of the company’s stock, valued at $32,986,341.48. The trade was a 18.87 % decrease in their ownership of the stock. 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. 0.72% of the stock is currently owned by company insiders.

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.