Orion Portfolio Solutions LLC Lowers Stake in Onto Innovation Inc. (NYSE:ONTO)

Orion Portfolio Solutions LLC lessened its stake in Onto Innovation Inc. (NYSE:ONTO) by 18.5% in the 4th quarter, Holdings Channel reports. The firm owned 10,033 shares of the semiconductor company’s stock after selling 2,281 shares during the period. Orion Portfolio Solutions LLC’s holdings in Onto Innovation were worth $1,672,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ONTO. Cerity Partners LLC grew its stake in shares of Onto Innovation by 287.0% in the third quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock valued at $968,000 after buying an additional 3,458 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Onto Innovation by 21.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,316 shares of the semiconductor company’s stock valued at $2,764,000 after acquiring an additional 2,311 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Onto Innovation by 1.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 134,123 shares of the semiconductor company’s stock worth $27,839,000 after purchasing an additional 1,530 shares during the period. Hilltop Holdings Inc. acquired a new stake in shares of Onto Innovation during the third quarter worth about $253,000. Finally, HighTower Advisors LLC boosted its stake in shares of Onto Innovation by 72.0% in the third quarter. HighTower Advisors LLC now owns 10,184 shares of the semiconductor company’s stock valued at $2,095,000 after purchasing an additional 4,263 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.

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 that occurred on Tuesday, January 21st. The stock was 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 in the company, valued at $32,986,341.48. This represents a 18.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction 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 transaction, the senior vice president now 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 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 ninety days. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Oppenheimer reduced their price objective on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Stifel Nicolaus set a $200.00 target price on Onto Innovation and gave the stock a “buy” rating in a research note on Friday, March 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Finally, StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Onto Innovation presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.88.

Onto Innovation Price Performance

Shares of Onto Innovation stock opened at $125.69 on Thursday. The stock has a market capitalization of $6.19 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 0.89 and a beta of 1.29. The firm’s fifty day simple moving average is $158.75 and its 200-day simple moving average is $177.30. Onto Innovation Inc. has a 12 month low of $116.16 and a 12 month high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 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%. Analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current 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.