Victory Capital Management Inc. Has $17.57 Million Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Victory Capital Management Inc. cut its position in Onto Innovation Inc. (NYSE:ONTO) by 11.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,393 shares of the semiconductor company’s stock after selling 13,741 shares during the period. Victory Capital Management Inc. owned 0.21% of Onto Innovation worth $17,566,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC acquired a new position in shares of Onto Innovation in the 4th quarter worth approximately $26,000. Mather Group LLC. raised its position in Onto Innovation by 209.4% in the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 111 shares during the last quarter. Versant Capital Management Inc boosted its stake in 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 purchasing an additional 197 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Onto Innovation during the fourth quarter worth $43,000. Finally, Berbice Capital Management LLC acquired a new stake in shares of Onto Innovation in the fourth quarter valued at $50,000. 98.35% of the stock is owned by institutional investors.

Insider Transactions at Onto Innovation

In other news, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the transaction, the chief executive officer now directly owns 150,492 shares of the company’s stock, valued at $32,986,341.48. This trade represents a 18.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction of $169,535.00. Following the completion of the sale, the senior vice president now owns 15,223 shares of the company’s stock, valued at approximately $3,120,715. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,827 shares of company stock worth $18,182,185. 0.72% of the stock is currently owned by company insiders.

Onto Innovation Stock Performance

ONTO opened at $124.58 on Wednesday. The company has a fifty day moving average price of $179.62 and a two-hundred day moving average price of $184.37. The firm has a market capitalization of $6.14 billion, a PE ratio of 30.68, a P/E/G ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a 52 week low of $121.47 and a 52 week high of $238.93.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 EPS 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 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Stifel Nicolaus reduced their target price on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Oppenheimer lowered their price target on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Finally, Benchmark reissued a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Onto Innovation presently has an average rating of “Moderate Buy” and a consensus target price of $246.88.

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.