Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Peterson Wealth Services

Peterson Wealth Services decreased its position in Onto Innovation Inc. (NYSE:ONTO) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,487 shares of the semiconductor company’s stock after selling 261 shares during the quarter. Peterson Wealth Services’ holdings in Onto Innovation were worth $748,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ONTO. Northwestern Mutual Wealth Management Co. increased its position in shares of Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 108 shares during the last quarter. Mather Group LLC. grew its stake 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 worth $27,000 after purchasing an additional 111 shares in the last quarter. Versant Capital Management Inc increased its holdings in Onto Innovation by 532.4% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 197 shares during the last quarter. Berbice Capital Management LLC acquired a new stake in Onto Innovation in the fourth quarter valued at $50,000. Finally, Eastern Bank purchased a new stake in Onto Innovation during the 3rd quarter worth about $65,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Down 1.9 %

NYSE ONTO opened at $183.40 on Tuesday. The firm has a market cap of $9.06 billion, a P/E ratio of 45.17, a P/E/G ratio of 1.09 and a beta of 1.31. Onto Innovation Inc. has a 52-week low of $145.15 and a 52-week high of $238.93. The business’s 50-day moving average price is $186.01 and its 200 day moving average price is $190.03.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.41% and a net margin of 20.43%. As a group, analysts anticipate that Onto Innovation Inc. will post 6.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ONTO. Oppenheimer reissued an “outperform” rating and set a $275.00 target price on shares of Onto Innovation in a research report on Tuesday, December 17th. Stifel Nicolaus reduced their price objective on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Friday. Needham & Company LLC restated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 price target on shares of Onto Innovation in a research note on Friday. Finally, Jefferies Financial Group decreased their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $251.25.

Insider Activity at Onto Innovation

In other 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 sale, the senior vice president now owns 15,223 shares in the company, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael P. Plisinski sold 30,000 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $211.24, for a total transaction of $6,337,200.00. Following the transaction, the chief executive officer now owns 185,492 shares in the company, valued at approximately $39,183,330.08. This trade represents a 13.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,827 shares of company stock worth $18,182,185 in the last three months. Insiders own 0.72% of the company’s stock.

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.