FourThought Financial Partners LLC Lowers Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

FourThought Financial Partners LLC reduced its holdings in Onto Innovation Inc. (NYSE:ONTO) by 17.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,649 shares of the semiconductor company’s stock after selling 358 shares during the quarter. FourThought Financial Partners LLC’s holdings in Onto Innovation were worth $252,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Fifth Third Bancorp raised its holdings in Onto Innovation by 198.3% during the fourth quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 115 shares during the last quarter. Contravisory Investment Management Inc. acquired a new position in shares of Onto Innovation in the fourth quarter worth $28,000. GAMMA Investing LLC acquired a new position in shares of Onto Innovation in the fourth quarter worth $33,000. Huntington National Bank raised its holdings in shares of Onto Innovation by 70.3% in the third quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 102 shares during the last quarter. Finally, Operose Advisors LLC acquired a new position in shares of Onto Innovation in the third quarter worth $49,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ONTO shares. Stifel Nicolaus boosted their price target on Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, March 25th. Evercore ISI assumed coverage on Onto Innovation in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $235.00 target price for the company. B. Riley upped their target price on Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Benchmark upped their target price on Onto Innovation from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $191.60.

Insider Buying and Selling

In other Onto Innovation news, CEO Michael P. Plisinski sold 40,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the completion of the transaction, the chief executive officer now directly owns 235,492 shares of the company’s stock, valued at approximately $41,324,136.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Michael P. Plisinski sold 40,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the completion of the sale, the chief executive officer now owns 235,492 shares in the company, valued at approximately $41,324,136.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Yoon Ah Oh sold 1,685 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $180.00, for a total value of $303,300.00. Following the sale, the vice president now owns 14,913 shares of the company’s stock, valued at $2,684,340. The disclosure for this sale can be found here. Insiders sold 47,170 shares of company stock valued at $8,266,955 in the last three months. 0.72% of the stock is currently owned by corporate insiders.

Onto Innovation Stock Up 3.4 %

Shares of NYSE:ONTO traded up $6.79 during trading on Monday, hitting $207.59. 246,544 shares of the company traded hands, compared to its average volume of 427,578. The stock has a market capitalization of $10.20 billion, a price-to-earnings ratio of 81.63 and a beta of 1.40. The business’s fifty day moving average is $183.87 and its 200-day moving average is $159.37. Onto Innovation Inc. has a one year low of $84.17 and a one year high of $210.11.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The business had revenue of $219.00 million during the quarter, compared to analyst estimates of $209.06 million. During the same period in the prior year, the company posted $1.57 EPS. The business’s revenue for the quarter was down 13.5% compared to the same quarter last year. On average, analysts forecast that Onto Innovation Inc. will post 4.7 EPS for the current 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.