Quadrant Capital Group LLC Reduces Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Quadrant Capital Group LLC trimmed its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 10.2% in the 4th quarter, Holdings Channel reports. The firm owned 1,181 shares of the semiconductor company’s stock after selling 134 shares during the period. Quadrant Capital Group LLC’s holdings in Onto Innovation were worth $197,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Kestra Investment Management LLC bought a new stake in Onto Innovation in the 4th quarter worth approximately $26,000. Mather Group LLC. boosted its stake in shares of Onto Innovation by 209.4% in the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock worth $27,000 after buying an additional 111 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of 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 acquiring an additional 197 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Onto Innovation during the fourth quarter valued at $43,000. Finally, Berbice Capital Management LLC bought a new position in Onto Innovation in the fourth quarter valued at about $50,000. Institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Stifel Nicolaus set a $200.00 price target on shares of Onto Innovation and gave the stock a “buy” rating in a research report on Friday, March 28th. Jefferies Financial Group cut their price objective on shares of Onto Innovation from $245.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Finally, Benchmark restated a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. One equities research 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.88.

Insider Buying and Selling at Onto Innovation

In related news, SVP Srinivas Vedula sold 827 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the transaction, the senior vice president now directly owns 15,223 shares of the company’s stock, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael P. Plisinski sold 20,000 shares of the company’s 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 sale, the chief executive officer now directly owns 215,492 shares in the company, valued at approximately $43,139,343.48. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,827 shares of company stock valued at $18,182,185 in the last 90 days. Insiders own 0.72% of the company’s stock.

Onto Innovation Stock Performance

ONTO opened at $104.52 on Wednesday. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46. The firm’s fifty day moving average is $149.69 and its 200 day moving average is $174.24. Onto Innovation Inc. has a fifty-two week low of $98.21 and a fifty-two week high of $238.93.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. On average, equities research analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Onto Innovation 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.