Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in Onto Innovation Inc. (NYSE:ONTO) by 11.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,690 shares of the semiconductor company’s stock after selling 14,024 shares during the period. Principal Financial Group Inc. owned about 0.23% of Onto Innovation worth $18,949,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ONTO. JPMorgan Chase & Co. lifted its holdings in shares of 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 purchasing an additional 228,800 shares during the last quarter. State Street Corp increased its position in Onto Innovation by 2.8% during the third quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company’s stock worth $305,107,000 after buying an additional 39,367 shares during the period. Franklin Resources Inc. lifted its stake in Onto Innovation by 4.5% in the third quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company’s stock valued at $288,320,000 after buying an additional 54,868 shares during the last quarter. Congress Asset Management Co. boosted its holdings in shares of Onto Innovation by 38.1% in the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock valued at $222,670,000 after acquiring an additional 295,869 shares during the period. Finally, Geneva Capital Management LLC grew its position 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 acquiring an additional 23,628 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Jefferies Financial Group reduced their price target on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Oppenheimer decreased their target price on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Stifel Nicolaus decreased their price objective on Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 target price on shares of Onto Innovation in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Onto Innovation has a consensus rating of “Moderate Buy” and a consensus price target of $246.88.

Insider Transactions at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the business’s 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. The trade was a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael P. Plisinski sold 35,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total value of $7,671,650.00. Following the completion of the transaction, the chief executive officer now owns 150,492 shares of the company’s stock, valued at approximately $32,986,341.48. This represents a 18.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,827 shares of company stock valued at $18,182,185 in the last ninety days. 0.72% of the stock is currently owned by company insiders.

Onto Innovation Trading Down 0.8 %

NYSE ONTO opened at $158.15 on Tuesday. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of 38.95, a PEG ratio of 0.89 and a beta of 1.31. The business’s 50 day moving average is $186.66 and its two-hundred day moving average is $189.60. Onto Innovation Inc. has a 12-month low of $145.15 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, topping 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%. Equities analysts forecast that Onto Innovation Inc. will post 6.26 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.