Nisa Investment Advisors LLC Reduces Position in Onto Innovation Inc. (NYSE:ONTO)

Nisa Investment Advisors LLC lessened its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 7.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,380 shares of the semiconductor company’s stock after selling 190 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Onto Innovation were worth $364,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its stake in Onto Innovation by 198.3% during the 4th quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock worth $26,000 after buying an additional 115 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in Onto Innovation during the 4th quarter worth approximately $28,000. Huntington National Bank grew its stake in shares of Onto Innovation by 70.3% in the 3rd quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 102 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Onto Innovation by 51.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 516 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 175 shares during the last quarter. Finally, Operose Advisors LLC purchased a new position in shares of Onto Innovation in the 3rd quarter valued at approximately $49,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Price Performance

ONTO opened at $177.70 on Friday. The business has a 50 day simple moving average of $182.01 and a 200-day simple moving average of $155.09. The stock has a market capitalization of $8.73 billion, a P/E ratio of 72.24 and a beta of 1.40. Onto Innovation Inc. has a 12 month low of $76.40 and a 12 month high of $199.72.

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 the consensus estimate of $0.99 by $0.07. The firm had revenue of $219.00 million during the quarter, compared to analysts’ expectations of $209.06 million. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. Onto Innovation’s revenue was down 13.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.57 earnings per share. Research analysts anticipate that Onto Innovation Inc. will post 4.7 EPS for the current year.

Analysts Set New Price Targets

ONTO has been the topic of several analyst reports. Benchmark lifted their target price on Onto Innovation from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Stifel Nicolaus lifted their target price on Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, March 25th. B. Riley lifted their target price on Onto Innovation from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Evercore ISI initiated coverage on Onto Innovation in a report on Tuesday. They issued an “outperform” rating and a $235.00 price target for the company. Finally, StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Onto Innovation currently has an average rating of “Moderate Buy” and a consensus price target of $191.60.

Insider Buying and Selling

In related news, CEO Michael P. Plisinski sold 40,000 shares of Onto Innovation 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 $41,324,136.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director David Brian Miller sold 2,800 shares of Onto Innovation stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total transaction of $477,372.00. Following the completion of the sale, the director now owns 9,008 shares in the company, valued at approximately $1,535,773.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael P. Plisinski sold 40,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,170 shares of company stock valued at $8,266,955. 0.72% of the stock is owned by 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.