Securian Asset Management Inc. Has $622,000 Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Securian Asset Management Inc. reduced its stake in Onto Innovation Inc. (NYSE:ONTO) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,730 shares of the semiconductor company’s stock after selling 100 shares during the quarter. Securian Asset Management Inc.’s holdings in Onto Innovation were worth $622,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kestra Investment Management LLC acquired a new position in shares of Onto Innovation in the fourth quarter worth approximately $26,000. Mather Group LLC. lifted its stake in shares of Onto Innovation by 209.4% in the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 111 shares during the period. Versant Capital Management Inc lifted its stake in shares of Onto Innovation by 532.4% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 197 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Onto Innovation in the fourth quarter worth approximately $43,000. Finally, Berbice Capital Management LLC acquired a new position in shares of Onto Innovation in the fourth quarter worth approximately $50,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ONTO shares. 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. Benchmark reiterated a “buy” rating and issued a $230.00 target price 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 report on Thursday, February 27th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Finally, Stifel Nicolaus lowered their target price on Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a report on Friday, February 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $246.88.

Onto Innovation Stock Up 3.0 %

NYSE ONTO opened at $138.72 on Monday. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 34.17, a P/E/G ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a 52 week low of $121.47 and a 52 week high of $238.93. The business has a 50 day moving average price of $177.40 and a 200-day moving average price of $182.83.

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

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 stock was sold at an average price of $205.00, for a total transaction of $169,535.00. Following the transaction, the senior vice president now owns 15,223 shares of the company’s stock, valued at $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total value of $7,671,650.00. Following the transaction, the chief executive officer now directly owns 150,492 shares in the company, valued at approximately $32,986,341.48. The trade was a 18.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 85,827 shares of company stock worth $18,182,185 over the last quarter. 0.72% of the stock is currently owned by corporate insiders.

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.