Principal Securities Inc. Has $43,000 Position in Onto Innovation Inc. (NYSE:ONTO)

Principal Securities Inc. cut its holdings in Onto Innovation Inc. (NYSE:ONTO) by 78.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 259 shares of the semiconductor company’s stock after selling 925 shares during the period. Principal Securities Inc.’s holdings in Onto Innovation were worth $43,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Raymond James & Associates grew its stake in shares of Onto Innovation by 106.7% during the third quarter. Raymond James & Associates now owns 23,324 shares of the semiconductor company’s stock worth $4,841,000 after purchasing an additional 12,040 shares during the period. Private Advisor Group LLC boosted its holdings in Onto Innovation by 17.1% during the third quarter. Private Advisor Group LLC now owns 2,195 shares of the semiconductor company’s stock worth $455,000 after buying an additional 321 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Onto Innovation by 41,412.0% during the 3rd quarter. International Assets Investment Management LLC now owns 41,512 shares of the semiconductor company’s stock worth $8,616,000 after buying an additional 41,412 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Onto Innovation by 67.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,733 shares of the semiconductor company’s stock valued at $567,000 after acquiring an additional 1,105 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Onto Innovation by 7.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 5,710 shares of the semiconductor company’s stock valued at $1,185,000 after acquiring an additional 385 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Price Performance

ONTO opened at $145.43 on Friday. The company has a market capitalization of $7.18 billion, a price-to-earnings ratio of 35.82, a P/E/G ratio of 0.89 and a beta of 1.31. The business’s 50-day moving average price is $185.47 and its two-hundred day moving average price is $188.76. Onto Innovation Inc. has a 1 year low of $145.15 and a 1 year high of $238.93.

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ONTO. Stifel Nicolaus decreased their price objective on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a report on Friday, February 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Benchmark restated a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. StockNews.com upgraded Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Jefferies Financial Group lowered their price target on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Onto Innovation presently has an average rating of “Moderate Buy” and a consensus target price of $246.88.

Insider Transactions at Onto Innovation

In related news, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the sale, the senior vice president now owns 15,223 shares of the company’s stock, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael P. Plisinski sold 35,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total value of $7,671,650.00. Following the sale, the chief executive officer now owns 150,492 shares in the company, valued at $32,986,341.48. The trade was a 18.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,827 shares of company stock valued at $18,182,185 over the last 90 days. 0.72% of the stock is owned by corporate 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.