Los Angeles Capital Management LLC Reduces Holdings in Onto Innovation Inc. (NYSE:ONTO)

Los Angeles Capital Management LLC decreased its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 95.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,510 shares of the semiconductor company’s stock after selling 121,816 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Onto Innovation were worth $918,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ONTO. Citigroup Inc. lifted its holdings in shares of Onto Innovation by 811.7% during the third quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company’s stock worth $66,236,000 after purchasing an additional 284,115 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Onto Innovation by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after purchasing an additional 228,800 shares during the period. Barclays PLC lifted its holdings in shares of Onto Innovation by 1,296.7% during the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock worth $45,079,000 after purchasing an additional 201,640 shares during the period. FMR LLC lifted its holdings in shares of Onto Innovation by 20.5% during the third quarter. FMR LLC now owns 825,682 shares of the semiconductor company’s stock worth $171,379,000 after purchasing an additional 140,659 shares during the period. Finally, Swedbank AB lifted its holdings in shares of Onto Innovation by 138.8% during the fourth quarter. Swedbank AB now owns 197,000 shares of the semiconductor company’s stock worth $32,834,000 after purchasing an additional 114,500 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

ONTO has been the subject of a number of analyst reports. Stifel Nicolaus decreased their price target on Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a report on Friday, February 7th. Oppenheimer decreased their price target on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Needham & Company LLC reissued a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Finally, StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $246.88.

Onto Innovation Stock Up 0.0 %

Shares of NYSE:ONTO opened at $145.60 on Friday. The stock has a market cap of $7.19 billion, a P/E ratio of 35.86, a PEG ratio of 0.89 and a beta of 1.31. Onto Innovation Inc. has a 52-week low of $141.50 and a 52-week high of $238.93. The business has a fifty day moving average of $185.04 and a two-hundred day moving average of $188.35.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Insider Transactions at Onto Innovation

In related news, CEO Michael P. Plisinski sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 215,492 shares in the company, valued at $43,139,343.48. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 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 in the company, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,827 shares of company stock valued at $18,182,185. Corporate insiders own 0.72% of the company’s stock.

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.