PNC Financial Services Group Inc. Sells 2,517 Shares of Onto Innovation Inc. (NYSE:ONTO)

PNC Financial Services Group Inc. trimmed its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 27.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,571 shares of the semiconductor company’s stock after selling 2,517 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Onto Innovation were worth $1,005,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Fifth Third Bancorp boosted its position in shares of Onto Innovation by 198.3% in the fourth quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 115 shares during the period. Contravisory Investment Management Inc. bought a new position in shares of Onto Innovation in the fourth quarter worth approximately $28,000. GAMMA Investing LLC bought a new position in shares of Onto Innovation in the fourth quarter worth approximately $33,000. Operose Advisors LLC bought a new position in shares of Onto Innovation in the third quarter worth approximately $49,000. Finally, Parallel Advisors LLC boosted its position in shares of Onto Innovation by 43.0% in the fourth quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company’s stock worth $56,000 after purchasing an additional 110 shares during the period. 98.35% of the stock is currently owned by institutional investors.

Insider Transactions at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,486 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $213.40, for a total value of $317,112.40. Following the transaction, the senior vice president now directly owns 17,433 shares in the company, valued at $3,720,202.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Mark Slicer sold 519 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $221.21, for a total value of $114,807.99. Following the sale, the chief financial officer now directly owns 12,552 shares in the company, valued at approximately $2,776,627.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Srinivas Vedula sold 1,486 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $213.40, for a total transaction of $317,112.40. Following the completion of the sale, the senior vice president now owns 17,433 shares in the company, valued at $3,720,202.20. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ONTO. Benchmark boosted their target price on shares of Onto Innovation from $180.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Evercore ISI boosted their target price on shares of Onto Innovation from $235.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 10th. Needham & Company LLC reissued a “hold” rating on shares of Onto Innovation in a report on Friday, May 10th. B. Riley boosted their target price on shares of Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Stifel Nicolaus boosted their target price on shares of Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, March 25th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Onto Innovation presently has a consensus rating of “Moderate Buy” and a consensus price target of $248.00.

Onto Innovation Trading Down 2.4 %

Shares of ONTO opened at $216.40 on Monday. Onto Innovation Inc. has a twelve month low of $103.93 and a twelve month high of $238.13. The company has a market cap of $10.66 billion, a P/E ratio of 77.01 and a beta of 1.43. The company’s fifty day simple moving average is $210.54 and its 200-day simple moving average is $182.50.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.08. The firm had revenue of $228.80 million for the quarter, compared to analysts’ expectations of $222.60 million. Onto Innovation had a net margin of 16.43% and a return on equity of 11.48%. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 earnings per share. Analysts predict that Onto Innovation Inc. will post 5.05 earnings per share for the current fiscal year.

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.