Van ECK Associates Corp Trims Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Van ECK Associates Corp reduced its stake in Onto Innovation Inc. (NYSE:ONTO) by 14.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 500 shares of the semiconductor company’s stock after selling 86 shares during the quarter. Van ECK Associates Corp’s holdings in Onto Innovation were worth $83,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Mather Group LLC. raised its holdings in shares of Onto Innovation by 209.4% in the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 111 shares during the period. Versant Capital Management Inc grew its stake in Onto Innovation by 532.4% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 197 shares in the last quarter. Berbice Capital Management LLC acquired a new stake in Onto Innovation during the 4th quarter valued at approximately $50,000. UMB Bank n.a. lifted its holdings in Onto Innovation by 22.8% during the 4th quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock worth $66,000 after buying an additional 74 shares during the last quarter. Finally, Huntington National Bank lifted its holdings in Onto Innovation by 26.3% during the 3rd quarter. Huntington National Bank now owns 423 shares of the semiconductor company’s stock worth $88,000 after buying an additional 88 shares during the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Onto Innovation Trading Down 4.7 %

Shares of ONTO opened at $159.23 on Monday. Onto Innovation Inc. has a 12 month low of $145.15 and a 12 month high of $238.93. The firm’s 50 day moving average is $186.90 and its 200-day moving average is $189.74. The stock has a market capitalization of $7.86 billion, a PE ratio of 39.22, a P/E/G ratio of 0.89 and a beta of 1.31.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. Equities research analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ONTO. Stifel Nicolaus cut their price target on Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Oppenheimer lowered their price target on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a research report on Thursday. Benchmark restated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. One 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $246.88.

Insider Transactions at Onto Innovation

In related news, SVP Srinivas Vedula sold 827 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the transaction, the senior vice president now directly owns 15,223 shares of the company’s stock, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael P. Plisinski sold 30,000 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $211.24, for a total transaction of $6,337,200.00. Following the completion of the transaction, the chief executive officer now directly owns 185,492 shares of the company’s stock, valued at approximately $39,183,330.08. The trade was a 13.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock valued at $18,182,185 in the last 90 days. 0.72% of the stock is currently owned by corporate insiders.

About Onto Innovation

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.