Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. trimmed its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 67.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,352 shares of the semiconductor company’s stock after selling 4,878 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Onto Innovation were worth $392,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Onto Innovation by 52.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,435 shares of the semiconductor company’s stock valued at $298,000 after purchasing an additional 493 shares during the period. Cerity Partners LLC boosted its position in Onto Innovation by 287.0% in the 3rd quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock valued at $968,000 after buying an additional 3,458 shares during the period. Swedbank AB boosted its position in Onto Innovation by 32.2% in the 3rd quarter. Swedbank AB now owns 82,500 shares of the semiconductor company’s stock valued at $17,124,000 after buying an additional 20,100 shares during the period. Daiwa Securities Group Inc. acquired a new position in shares of Onto Innovation in the third quarter worth $125,000. Finally, Bank of Montreal Can increased its position in shares of Onto Innovation by 644.3% during the third quarter. Bank of Montreal Can now owns 50,782 shares of the semiconductor company’s stock worth $10,937,000 after acquiring an additional 43,959 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on ONTO. Oppenheimer lowered their target price on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Stifel Nicolaus lowered their price objective on Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Benchmark reaffirmed a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $246.88.

Onto Innovation Stock Down 4.1 %

NYSE:ONTO opened at $133.13 on Thursday. Onto Innovation Inc. has a 52-week low of $121.47 and a 52-week high of $238.93. The stock’s 50 day moving average price is $168.16 and its 200 day moving average price is $179.59. The company has a market capitalization of $6.56 billion, a PE ratio of 32.79, a P/E/G ratio of 0.89 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) 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, sell-side analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Insider Activity

In other news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total transaction 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 represents a 5.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael P. Plisinski sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total value of $7,671,650.00. Following the completion of the sale, the chief executive officer now directly owns 150,492 shares of the company’s stock, valued at $32,986,341.48. This represents a 18.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 85,827 shares of company stock valued at $18,182,185. Company insiders own 0.72% of the company’s stock.

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.