Mirae Asset Global Investments Co. Ltd. Sells 2,586 Shares of Onto Innovation Inc. (NYSE:ONTO)

Mirae Asset Global Investments Co. Ltd. cut its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 3.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 64,922 shares of the semiconductor company’s stock after selling 2,586 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Onto Innovation were worth $11,080,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its stake 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. lifted its stake in shares of Onto Innovation by 209.4% in the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 111 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Onto Innovation by 532.4% in the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 197 shares during the last quarter. Berbice Capital Management LLC bought a new stake in shares of Onto Innovation in the 4th quarter valued at approximately $50,000. Finally, Eastern Bank bought a new stake in shares of Onto Innovation in the 3rd quarter valued at approximately $65,000. 98.35% of the stock is owned by institutional investors.

Onto Innovation Stock Up 0.6 %

ONTO opened at $210.86 on Friday. The stock’s fifty day moving average is $184.54 and its two-hundred day moving average is $190.24. The company has a market capitalization of $10.41 billion, a P/E ratio of 57.14, a PEG ratio of 1.06 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.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data 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 13.38% and a net margin of 19.44%. Equities analysts anticipate that Onto Innovation Inc. will post 5.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, 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 directly owns 15,223 shares in the company, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael P. Plisinski sold 20,000 shares of Onto Innovation stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total value of $4,003,800.00. Following the completion of the transaction, the chief executive officer now owns 215,492 shares in the company, valued at $43,139,343.48. This represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock worth $18,182,185 in the last ninety days. 0.72% of the stock is owned by company insiders.

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.