Great Lakes Advisors LLC Cuts Position in Onto Innovation Inc. (NYSE:ONTO)

Great Lakes Advisors LLC decreased its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 4.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 89,864 shares of the semiconductor company’s stock after selling 4,172 shares during the period. Great Lakes Advisors LLC’s holdings in Onto Innovation were worth $14,978,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ONTO. Van ECK Associates Corp grew its holdings in shares of Onto Innovation by 28.5% during the third quarter. Van ECK Associates Corp now owns 586 shares of the semiconductor company’s stock valued at $118,000 after buying an additional 130 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Onto Innovation by 25.3% during the third quarter. Crossmark Global Holdings Inc. now owns 3,805 shares of the semiconductor company’s stock valued at $790,000 after buying an additional 769 shares during the last quarter. Versor Investments LP grew its holdings in shares of Onto Innovation by 266.7% during the third quarter. Versor Investments LP now owns 4,400 shares of the semiconductor company’s stock valued at $913,000 after buying an additional 3,200 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Onto Innovation during the third quarter valued at approximately $1,426,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Onto Innovation during the third quarter valued at approximately $478,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Price Performance

Shares of Onto Innovation stock opened at $134.00 on Thursday. The company’s fifty day simple moving average is $178.96 and its 200-day simple moving average is $184.01. The stock has a market capitalization of $6.60 billion, a PE ratio of 33.01, a P/E/G 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 issued its quarterly 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%. As a group, research analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current year.

Insider Transactions at Onto Innovation

In related news, 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 transaction, the senior vice president now owns 15,223 shares in the company, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael P. Plisinski sold 20,000 shares of Onto Innovation stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the transaction, the chief executive officer now owns 215,492 shares in the company, valued at approximately $43,139,343.48. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock worth $18,182,185 in the last 90 days. 0.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on ONTO. Needham & Company LLC reiterated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Benchmark restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Finally, Stifel Nicolaus lowered their price objective 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 analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.