SG Americas Securities LLC Reduces Position in Onto Innovation Inc. (NYSE:ONTO)

SG Americas Securities LLC reduced its holdings in Onto Innovation Inc. (NYSE:ONTO) by 57.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,625 shares of the semiconductor company’s stock after selling 3,495 shares during the period. SG Americas Securities LLC’s holdings in Onto Innovation were worth $438,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Congress Asset Management Co. grew its stake 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 during the period. Citigroup Inc. grew its stake in Onto Innovation by 811.7% during the 3rd quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company’s stock valued at $66,236,000 after acquiring an additional 284,115 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Onto Innovation by 12.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock valued at $416,863,000 after buying an additional 228,800 shares in the last quarter. Barclays PLC grew its stake in shares of Onto Innovation by 1,296.7% in the 3rd quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock valued at $45,079,000 after buying an additional 201,640 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Onto Innovation during the 3rd quarter worth $30,418,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

ONTO has been the topic of a number of research analyst reports. Benchmark reissued a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, November 1st. Cantor Fitzgerald began coverage on Onto Innovation in a research note on Monday, January 13th. They issued an “overweight” rating and a $250.00 price objective for the company. Oppenheimer restated an “outperform” rating and issued a $275.00 target price on shares of Onto Innovation in a research note on Tuesday, December 17th. Jefferies Financial Group lowered their price target on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, Needham & Company LLC lowered their target price on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Onto Innovation has an average rating of “Moderate Buy” and an average target price of $253.75.

Insider Transactions at Onto Innovation

In related news, CEO Michael P. Plisinski sold 20,000 shares of the stock in a transaction on Tuesday, January 14th. The stock was 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 approximately $43,139,343.48. This represents a 8.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Srinivas Vedula sold 827 shares of the business’s stock in a transaction that occurred 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 $3,120,715. This trade represents a 5.15 % 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 three months. Company insiders own 0.72% of the company’s stock.

Onto Innovation Stock Performance

Shares of NYSE ONTO opened at $205.07 on Monday. The firm has a market cap of $10.13 billion, a P/E ratio of 55.57, a price-to-earnings-growth ratio of 0.99 and a beta of 1.29. Onto Innovation Inc. has a 1 year low of $145.15 and a 1 year high of $238.93. The firm’s 50 day moving average price is $182.12 and its 200 day moving average price is $190.22.

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