Osterweis Capital Management Inc. Reduces Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Osterweis Capital Management Inc. lowered its position in Onto Innovation Inc. (NYSE:ONTO) by 20.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,647 shares of the semiconductor company’s stock after selling 8,050 shares during the quarter. Osterweis Capital Management Inc. owned 0.06% of Onto Innovation worth $5,108,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ONTO. Kestra Investment Management LLC bought a new stake in shares of Onto Innovation in the 4th quarter worth about $26,000. Mather Group LLC. raised its holdings 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 buying an additional 111 shares during the last quarter. Versant Capital Management Inc raised its stake in Onto Innovation by 532.4% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 197 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Onto Innovation in the fourth quarter worth about $43,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Onto Innovation in the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insider Buying and Selling

In other news, CEO Michael P. Plisinski sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the completion of the transaction, the chief executive officer now directly owns 150,492 shares of the company’s stock, valued at approximately $32,986,341.48. This trade represents a 18.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is owned by company insiders.

Onto Innovation Stock Down 4.9 %

NYSE:ONTO opened at $114.54 on Thursday. Onto Innovation Inc. has a 12 month low of $98.21 and a 12 month high of $238.93. The company’s 50 day moving average is $138.51 and its 200-day moving average is $170.59. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of 28.21, a P/E/G ratio of 0.89 and a beta of 1.46.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. Research analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Jefferies Financial Group lowered their price objective on shares of Onto Innovation from $245.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Finally, Stifel Nicolaus cut their price objective on Onto Innovation from $200.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $218.13.

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.