abrdn plc Trims Stake in Onto Innovation Inc. (NYSE:ONTO)

abrdn plc decreased its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 24.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 215,703 shares of the semiconductor company’s stock after selling 70,066 shares during the period. abrdn plc’s holdings in Onto Innovation were worth $32,981,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Onto Innovation by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,728,291 shares of the semiconductor company’s stock worth $730,472,000 after acquiring an additional 27,695 shares during the period. Paradigm Capital Management Inc. NY grew its holdings in shares of Onto Innovation by 0.4% during the 3rd quarter. Paradigm Capital Management Inc. NY now owns 1,182,689 shares of the semiconductor company’s stock worth $150,817,000 after acquiring an additional 4,400 shares during the period. Invesco Ltd. grew its holdings in shares of Onto Innovation by 113.7% during the 3rd quarter. Invesco Ltd. now owns 1,074,877 shares of the semiconductor company’s stock worth $137,068,000 after acquiring an additional 571,917 shares during the period. International Assets Investment Management LLC boosted its position in shares of Onto Innovation by 14,819.4% in the 4th quarter. International Assets Investment Management LLC now owns 615,575 shares of the semiconductor company’s stock worth $94,121,000 after purchasing an additional 611,449 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Onto Innovation by 0.8% in the 3rd quarter. Northern Trust Corp now owns 608,293 shares of the semiconductor company’s stock worth $77,570,000 after purchasing an additional 4,583 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Trading Up 0.8 %

ONTO stock opened at $170.83 on Tuesday. The stock has a market capitalization of $8.39 billion, a PE ratio of 69.44 and a beta of 1.40. Onto Innovation Inc. has a 12-month low of $76.40 and a 12-month high of $199.72. The stock’s 50 day simple moving average is $181.74 and its 200 day simple moving average is $156.07.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.07. The business had revenue of $219.00 million for the quarter, compared to analysts’ expectations of $209.06 million. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The firm’s quarterly revenue was down 13.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.57 EPS. On average, research analysts predict that Onto Innovation Inc. will post 4.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ONTO has been the topic of a number of analyst reports. Benchmark boosted their price target on Onto Innovation from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Evercore ISI initiated coverage on Onto Innovation in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $235.00 price target on the stock. B. Riley boosted their price target on Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Stifel Nicolaus boosted their price target on Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Finally, StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $191.60.

Insider Activity

In other news, CEO Michael P. Plisinski sold 40,000 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 235,492 shares of the company’s stock, valued at approximately $41,324,136.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Yoon Ah Oh sold 1,685 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $180.00, for a total value of $303,300.00. Following the completion of the sale, the vice president now directly owns 14,913 shares in the company, valued at approximately $2,684,340. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael P. Plisinski sold 40,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total value 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 disclosure for this sale can be found here. Insiders have sold 47,170 shares of company stock valued at $8,266,955 in 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.