Wealthspire Advisors LLC Has $258,000 Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Wealthspire Advisors LLC lowered its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 9.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,549 shares of the semiconductor company’s stock after selling 155 shares during the period. Wealthspire Advisors LLC’s holdings in Onto Innovation were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ONTO. UMB Bank n.a. lifted its holdings in shares of Onto Innovation by 22.8% during the 4th quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock valued at $66,000 after purchasing an additional 74 shares in the last quarter. Northwest & Ethical Investments L.P. increased its position in shares of Onto Innovation by 7.8% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 1,050 shares of the semiconductor company’s stock worth $218,000 after purchasing an additional 76 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Onto Innovation by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company’s stock worth $256,000 after acquiring an additional 81 shares during the last quarter. Huntington National Bank increased its holdings in shares of Onto Innovation by 26.3% during the 3rd quarter. Huntington National Bank now owns 423 shares of the semiconductor company’s stock worth $88,000 after acquiring an additional 88 shares during the last quarter. Finally, Hunter Perkins Capital Management LLC increased its holdings in shares of Onto Innovation by 3.9% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 2,415 shares of the semiconductor company’s stock worth $403,000 after acquiring an additional 90 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on ONTO shares. Oppenheimer decreased their price objective on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Jefferies Financial Group dropped their price objective on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, November 1st. 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. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Onto Innovation has an average rating of “Moderate Buy” and a consensus price target of $246.88.

Insider Activity at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 15,223 shares in the company, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael P. Plisinski sold 20,000 shares of the stock in a transaction on Tuesday, January 14th. The shares were 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 in the company, valued at approximately $43,139,343.48. This represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,827 shares of company stock worth $18,182,185 in the last 90 days. Company insiders own 0.72% of the company’s stock.

Onto Innovation Stock Performance

Shares of NYSE ONTO opened at $145.43 on Friday. Onto Innovation Inc. has a fifty-two week low of $145.15 and a fifty-two week high of $238.93. The stock has a fifty day moving average of $185.47 and a 200-day moving average of $188.76. The stock has a market cap of $7.18 billion, a PE ratio of 35.82, a price-to-earnings-growth ratio of 0.89 and a beta of 1.31.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping 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, sell-side analysts predict that Onto Innovation Inc. will post 6.26 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.