Brighton Jones LLC Reduces Position in Onto Innovation Inc. (NYSE:ONTO)

Brighton Jones LLC lowered its stake in Onto Innovation Inc. (NYSE:ONTO) by 31.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,885 shares of the semiconductor company’s stock after selling 2,666 shares during the period. Brighton Jones LLC’s holdings in Onto Innovation were worth $981,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in ONTO. UMB Bank n.a. increased its stake in shares of Onto Innovation by 22.8% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock worth $66,000 after acquiring an additional 74 shares during the period. Northwest & Ethical Investments L.P. grew its position in Onto Innovation by 7.8% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 1,050 shares of the semiconductor company’s stock worth $218,000 after purchasing an additional 76 shares during the period. Quarry LP grew its position in Onto Innovation by 232.4% during the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 79 shares during the period. Hunter Perkins Capital Management LLC raised its stake in shares of Onto Innovation by 3.6% during the 3rd quarter. Hunter Perkins Capital Management LLC now owns 2,325 shares of the semiconductor company’s stock valued at $483,000 after buying an additional 80 shares during the last quarter. Finally, Huntington National Bank boosted its stake in shares of Onto Innovation by 26.3% in the third quarter. Huntington National Bank now owns 423 shares of the semiconductor company’s stock worth $88,000 after buying an additional 88 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Onto Innovation news, CEO Michael P. Plisinski sold 35,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 150,492 shares in the company, valued at $32,986,341.48. This represents a 18.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction on 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 owns 15,223 shares in the company, valued at approximately $3,120,715. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,827 shares of company stock worth $18,182,185 over the last three months. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ONTO. Cantor Fitzgerald began coverage on Onto Innovation in a research report on Monday, January 13th. They set an “overweight” rating and a $250.00 price target for the company. Benchmark reiterated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, November 1st. Jefferies Financial Group dropped their price target on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Oppenheimer reiterated an “outperform” rating and issued a $275.00 price objective on shares of Onto Innovation in a research report on Tuesday, December 17th. Finally, Needham & Company LLC cut their price target on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $253.75.

Onto Innovation Trading Down 1.7 %

Shares of Onto Innovation stock opened at $213.26 on Friday. Onto Innovation Inc. has a twelve month low of $145.15 and a twelve month high of $238.93. The firm’s 50-day moving average price is $179.12 and its 200 day moving average price is $191.85. The firm has a market capitalization of $10.53 billion, a PE ratio of 57.79, a P/E/G ratio of 1.16 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The firm had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. During the same period in the previous year, the company posted $0.96 earnings per share. The business’s revenue was up 21.7% on a year-over-year basis. On average, sell-side analysts predict that Onto Innovation Inc. will post 5.22 EPS for the current fiscal year.

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.