Park Avenue Securities LLC Has $295,000 Position in Onto Innovation Inc. (NYSE:ONTO)

Park Avenue Securities LLC cut its position in Onto Innovation Inc. (NYSE:ONTO) by 5.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,771 shares of the semiconductor company’s stock after selling 112 shares during the quarter. Park Avenue Securities LLC’s holdings in Onto Innovation were worth $295,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock valued at $416,863,000 after acquiring an additional 228,800 shares during the period. State Street Corp raised its stake in Onto Innovation by 2.8% in the 3rd quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company’s stock worth $305,107,000 after purchasing an additional 39,367 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Onto Innovation by 4.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company’s stock valued at $288,320,000 after purchasing an additional 54,868 shares during the period. Congress Asset Management Co. grew its position in shares of Onto Innovation by 38.1% during the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after purchasing an additional 295,869 shares in the last quarter. Finally, Geneva Capital Management LLC increased its holdings in shares of Onto Innovation by 2.6% during the third quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company’s stock worth $195,032,000 after purchasing an additional 23,628 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ONTO shares. Cantor Fitzgerald initiated coverage on Onto Innovation in a research note on Monday, January 13th. They issued an “overweight” rating and a $250.00 price target for the company. Jefferies Financial Group cut their target price 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. Benchmark restated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research report on Friday, November 1st. Needham & Company LLC cut their price objective on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, Oppenheimer reiterated an “outperform” rating and set a $275.00 price objective on shares of Onto Innovation in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $253.75.

Onto Innovation Stock Down 1.7 %

Onto Innovation stock opened at $213.26 on Friday. The stock has a market cap of $10.53 billion, a PE ratio of 57.79, a P/E/G ratio of 1.16 and a beta of 1.29. Onto Innovation Inc. has a 12-month low of $145.15 and a 12-month high of $238.93. The business’s 50-day moving average price is $179.12 and its two-hundred day moving average price is $191.85.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.03. The company had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The firm’s revenue was up 21.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.96 EPS. As a group, analysts expect that Onto Innovation Inc. will post 5.22 earnings per share for the current year.

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 stock was sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the sale, the chief executive officer now directly owns 215,492 shares in the company, valued at approximately $43,139,343.48. The trade was a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Srinivas Vedula sold 827 shares of the firm’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 of the company’s stock, valued at approximately $3,120,715. This represents 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. Corporate insiders own 0.72% of the company’s stock.

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.