Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC trimmed its stake in Onto Innovation Inc. (NYSE:ONTO) by 14.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 12,349 shares of the semiconductor company’s stock after selling 2,011 shares during the quarter. Corient Private Wealth LLC’s holdings in Onto Innovation were worth $2,058,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ONTO. Kestra Investment Management LLC bought a new stake in Onto Innovation during the 4th quarter valued at $26,000. Mather Group LLC. raised its stake in shares of Onto Innovation by 209.4% during the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 111 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Onto Innovation by 532.4% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 197 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Onto Innovation in the fourth quarter worth about $43,000. Finally, Berbice Capital Management LLC bought a new position in Onto Innovation in the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Stock Up 3.9 %

NYSE:ONTO opened at $140.87 on Tuesday. The stock has a fifty day simple moving average of $170.88 and a 200 day simple moving average of $180.19. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of 34.70, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a 1-year low of $121.47 and a 1-year high of $238.93.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share 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%. Equities analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Michael P. Plisinski sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $211.24, for a total transaction of $6,337,200.00. Following the transaction, the chief executive officer now directly owns 185,492 shares of the company’s stock, valued at approximately $39,183,330.08. The trade was a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Srinivas Vedula sold 827 shares of the company’s stock in a transaction that occurred 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 represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,827 shares of company stock worth $18,182,185. Corporate insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ONTO shares. StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Benchmark reissued a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Finally, Stifel Nicolaus dropped their price target 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 investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Onto Innovation currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.88.

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.