Congress Wealth Management LLC DE Sells 86,758 Shares of Onto Innovation Inc. (NYSE:ONTO)

Congress Wealth Management LLC DE trimmed its position in Onto Innovation Inc. (NYSE:ONTO) by 64.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 47,302 shares of the semiconductor company’s stock after selling 86,758 shares during the period. Congress Wealth Management LLC DE owned 0.10% of Onto Innovation worth $7,884,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Onto Innovation by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company’s stock worth $861,040,000 after buying an additional 76,233 shares during the period. Bridge City Capital LLC raised its stake in shares of Onto Innovation by 1.0% during the fourth quarter. Bridge City Capital LLC now owns 8,165 shares of the semiconductor company’s stock valued at $1,361,000 after acquiring an additional 78 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of Onto Innovation by 35.3% during the fourth quarter. LPL Financial LLC now owns 35,672 shares of the semiconductor company’s stock worth $5,945,000 after purchasing an additional 9,310 shares during the period. Fox Run Management L.L.C. grew its stake in shares of Onto Innovation by 108.3% in the fourth quarter. Fox Run Management L.L.C. now owns 8,766 shares of the semiconductor company’s stock worth $1,461,000 after purchasing an additional 4,558 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Onto Innovation in the fourth quarter valued at $1,671,000. 98.35% of the stock is currently owned by institutional investors.

Onto Innovation Trading Down 1.8 %

NYSE:ONTO opened at $138.43 on Wednesday. Onto Innovation Inc. has a 12 month low of $121.47 and a 12 month high of $238.93. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of 34.10, a PEG ratio of 0.89 and a beta of 1.29. The firm has a fifty day simple moving average of $169.61 and a two-hundred day simple moving average of $179.92.

Onto Innovation (NYSE:ONTO) last issued its earnings results 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%. Equities analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ONTO has been the topic of several recent research reports. Stifel Nicolaus cut their target price on Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, February 7th. 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. Oppenheimer decreased 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 report on Thursday, February 20th. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $246.88.

Insider Transactions at Onto Innovation

In other news, CEO Michael P. Plisinski sold 20,000 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the completion of the sale, the chief executive officer now directly owns 215,492 shares of the company’s stock, valued at $43,139,343.48. The trade was a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Srinivas Vedula sold 827 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction of $169,535.00. Following the completion of the transaction, the senior vice president now directly owns 15,223 shares in the company, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock valued at $18,182,185 over 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.