American Century Companies Inc. Sells 53,335 Shares of Onto Innovation Inc. (NYSE:ONTO)

American Century Companies Inc. cut its holdings in Onto Innovation Inc. (NYSE:ONTO) by 16.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 264,613 shares of the semiconductor company’s stock after selling 53,335 shares during the period. American Century Companies Inc.’s holdings in Onto Innovation were worth $44,103,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted 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 worth $416,863,000 after buying an additional 228,800 shares during the last quarter. State Street Corp lifted its holdings in shares of Onto Innovation by 2.8% in the 3rd quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company’s stock worth $305,107,000 after acquiring an additional 39,367 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Onto Innovation by 4.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company’s stock worth $288,320,000 after acquiring an additional 54,868 shares during the last quarter. Geneva Capital Management LLC grew its holdings in Onto Innovation by 7.6% during the 4th quarter. Geneva Capital Management LLC now owns 1,010,691 shares of the semiconductor company’s stock valued at $168,452,000 after purchasing an additional 71,050 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Onto Innovation by 1.6% during the 3rd 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 last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction of $169,535.00. Following the transaction, the senior vice president now directly owns 15,223 shares of the company’s stock, valued at $3,120,715. This trade represents a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael P. Plisinski sold 20,000 shares of the company’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total value of $4,003,800.00. Following the sale, the chief executive officer now owns 215,492 shares of the company’s stock, valued at approximately $43,139,343.48. This represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,827 shares of company stock worth $18,182,185. 0.72% of the stock is currently owned by corporate insiders.

Onto Innovation Stock Down 3.4 %

Shares of NYSE ONTO opened at $128.61 on Friday. Onto Innovation Inc. has a twelve month low of $121.47 and a twelve month high of $238.93. The firm has a market cap of $6.34 billion, a PE ratio of 31.68, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. The business has a fifty day simple moving average of $166.46 and a two-hundred day simple moving average of $179.24.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, beating 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 expect that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Needham & Company LLC reissued 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 reduced their price target on Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Benchmark restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. StockNews.com upgraded Onto Innovation from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Finally, Oppenheimer lowered their target price on shares of 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 research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus 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.