D.A. Davidson & CO. Sells 411 Shares of Onto Innovation Inc. (NYSE:ONTO)

D.A. Davidson & CO. cut its holdings in Onto Innovation Inc. (NYSE:ONTO) by 21.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,510 shares of the semiconductor company’s stock after selling 411 shares during the quarter. D.A. Davidson & CO.’s holdings in Onto Innovation were worth $252,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ONTO. UMB Bank n.a. increased its stake in Onto Innovation by 22.8% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock valued at $66,000 after purchasing an additional 74 shares in the last quarter. Northwest & Ethical Investments L.P. lifted its holdings in shares of 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 purchasing an additional 76 shares in the last quarter. CIBC Asset Management Inc grew its position 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 valued at $256,000 after purchasing an additional 81 shares during the period. Huntington National Bank increased its stake in Onto Innovation by 26.3% during the 3rd quarter. Huntington National Bank now owns 423 shares of the semiconductor company’s stock valued at $88,000 after purchasing an additional 88 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC raised its holdings in Onto Innovation by 3.9% during the fourth 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 last quarter. 98.35% of the stock is currently owned by institutional investors.

Onto Innovation Price Performance

Shares of ONTO opened at $154.22 on Thursday. The firm has a market cap of $7.62 billion, a PE ratio of 37.99, a PEG ratio of 0.89 and a beta of 1.31. Onto Innovation Inc. has a 1 year low of $145.15 and a 1 year high of $238.93. The stock’s fifty day moving average price is $185.91 and its two-hundred day moving average price is $189.06.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, topping 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%. Sell-side analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Srinivas Vedula sold 827 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the sale, the senior vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael P. Plisinski sold 20,000 shares of Onto Innovation stock in a transaction 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 completion of the transaction, the chief executive officer now owns 215,492 shares in the company, valued at approximately $43,139,343.48. The trade was a 8.49 % 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 worth $18,182,185 over the last ninety days. Company insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Oppenheimer decreased their price objective on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Benchmark reiterated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Jefferies Financial Group reduced their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, 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, February 7th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Onto Innovation currently has an average rating of “Moderate Buy” and an average 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.