Wellington Management Group LLP Reduces Holdings in Onto Innovation Inc. (NYSE:ONTO)

Wellington Management Group LLP lowered its position in Onto Innovation Inc. (NYSE:ONTO) by 8.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 434,806 shares of the semiconductor company’s stock after selling 38,448 shares during the quarter. Wellington Management Group LLP’s holdings in Onto Innovation were worth $72,469,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ONTO. Kestra Investment Management LLC bought a new position in Onto Innovation during the 4th quarter valued at about $26,000. Mather Group LLC. grew its stake in shares of Onto Innovation by 209.4% during the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 111 shares during the last quarter. Versant Capital Management Inc raised its holdings 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 buying an additional 197 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Onto Innovation during the 4th quarter worth approximately $43,000. Finally, Berbice Capital Management LLC purchased a new position in Onto Innovation during the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Down 4.7 %

Shares of ONTO stock opened at $104.63 on Friday. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a 52-week low of $98.21 and a 52-week high of $238.93. The company’s 50 day moving average is $154.44 and its 200 day moving average is $176.24.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. Analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other Onto Innovation news, CEO Michael P. Plisinski sold 20,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 215,492 shares in the company, valued at $43,139,343.48. This trade represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Srinivas Vedula sold 827 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,827 shares of company stock worth $18,182,185. 0.72% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ONTO. Stifel Nicolaus set a $200.00 target price on Onto Innovation and gave the stock a “buy” rating in a research note on Friday, March 28th. Oppenheimer reduced their price target on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Benchmark reissued a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Jefferies Financial Group reduced their target price on shares of Onto Innovation from $245.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Finally, StockNews.com upgraded Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $231.88.

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.