New York Life Investment Management LLC Trims Stake in Onto Innovation Inc. (NYSE:ONTO)

New York Life Investment Management LLC lowered its holdings in Onto Innovation Inc. (NYSE:ONTO) by 7.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,207 shares of the semiconductor company’s stock after selling 422 shares during the quarter. New York Life Investment Management LLC’s holdings in Onto Innovation were worth $868,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cerity Partners LLC raised its position in Onto Innovation by 287.0% in the third quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock valued at $968,000 after purchasing an additional 3,458 shares during the period. Geode Capital Management LLC raised its position in Onto Innovation by 1.6% in the third quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company’s stock valued at $173,401,000 after purchasing an additional 13,405 shares during the period. JPMorgan Chase & Co. raised its position in Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock valued at $416,863,000 after purchasing an additional 228,800 shares during the period. Natixis Advisors LLC raised its position in Onto Innovation by 3.4% in the third quarter. Natixis Advisors LLC now owns 253,600 shares of the semiconductor company’s stock valued at $52,637,000 after purchasing an additional 8,456 shares during the period. Finally, Geneva Capital Management LLC grew its stake in shares of Onto Innovation by 2.6% in the third quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company’s stock valued at $195,032,000 after buying an additional 23,628 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insider Transactions at Onto Innovation

In other news, CEO Michael P. Plisinski sold 30,000 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 185,492 shares of the company’s stock, valued at approximately $39,183,330.08. This represents a 13.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Srinivas Vedula sold 827 shares of the company’s 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,827 shares of company stock valued at $18,182,185. 0.72% of the stock is currently owned by corporate insiders.

Onto Innovation Price Performance

ONTO opened at $136.10 on Tuesday. Onto Innovation Inc. has a 12 month low of $133.19 and a 12 month high of $238.93. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 33.52, a PEG ratio of 0.89 and a beta of 1.31. The business has a fifty day moving average price of $184.27 and a 200 day moving average price of $187.75.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, topping 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, research analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Benchmark reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Stifel Nicolaus dropped their price objective on Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Finally, Oppenheimer dropped their price objective 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. One equities 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.com, Onto Innovation presently has an average rating of “Moderate Buy” and a consensus price target of $246.88.

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.