Quadrant Capital Group LLC reduced its holdings in shares of Onto Innovation Inc. (NYSE:ONTO – Free Report) by 13.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,212 shares of the semiconductor company’s stock after selling 193 shares during the quarter. Quadrant Capital Group LLC’s holdings in Onto Innovation were worth $185,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fifth Third Bancorp boosted its position in Onto Innovation by 198.3% during the fourth quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 115 shares during the last quarter. Contravisory Investment Management Inc. acquired a new position in Onto Innovation during the fourth quarter worth $28,000. Huntington National Bank raised its position in Onto Innovation by 70.3% during the third quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 102 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Onto Innovation in the fourth quarter valued at $33,000. Finally, Operose Advisors LLC bought a new position in shares of Onto Innovation in the 3rd quarter valued at about $49,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Onto Innovation
In related news, CEO Michael P. Plisinski sold 40,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the sale, the chief executive officer now owns 235,492 shares of the company’s stock, valued at $41,324,136.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Michael P. Plisinski sold 40,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the completion of the sale, the chief executive officer now owns 235,492 shares of the company’s stock, valued at $41,324,136.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Yoon Ah Oh sold 1,685 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $180.00, for a total transaction of $303,300.00. Following the completion of the transaction, the vice president now directly owns 14,913 shares in the company, valued at $2,684,340. The disclosure for this sale can be found here. Insiders sold 44,370 shares of company stock valued at $7,789,583 in the last quarter. Company insiders own 0.72% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Evercore ISI upped their target price on shares of Onto Innovation from $235.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, May 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Onto Innovation in a research report on Friday, May 10th. Benchmark boosted their target price on Onto Innovation from $180.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Jefferies Financial Group assumed coverage on shares of Onto Innovation in a research report on Monday, May 13th. They set a “buy” rating and a $265.00 price objective for the company. Finally, B. Riley increased their price objective on shares of Onto Innovation from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $242.00.
Read Our Latest Stock Analysis on Onto Innovation
Onto Innovation Trading Up 1.9 %
NYSE:ONTO opened at $227.76 on Tuesday. The stock has a 50 day simple moving average of $191.15 and a 200 day simple moving average of $167.46. The stock has a market cap of $11.22 billion, a P/E ratio of 81.05 and a beta of 1.40. Onto Innovation Inc. has a 1-year low of $94.83 and a 1-year high of $235.42.
Onto Innovation (NYSE:ONTO – Get Free Report) last posted its earnings results on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.08. Onto Innovation had a return on equity of 11.48% and a net margin of 16.43%. The company had revenue of $228.80 million during the quarter, compared to the consensus estimate of $222.60 million. During the same quarter last year, the firm earned $0.92 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. As a group, sell-side analysts forecast that Onto Innovation Inc. will post 5.01 EPS for the current year.
About Onto Innovation
(Free Report)
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.
Read More
Want to see what other hedge funds are holding ONTO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Onto Innovation Inc. (NYSE:ONTO – Free Report).
Receive News & Ratings for Onto Innovation Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Onto Innovation and related companies with MarketBeat.com’s FREE daily email newsletter.