Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Congress Asset Management Co. MA

Congress Asset Management Co. MA trimmed its holdings in Onto Innovation Inc. (NYSE:ONTO) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 434,671 shares of the semiconductor company’s stock after selling 15,274 shares during the period. Congress Asset Management Co. MA owned 0.88% of Onto Innovation worth $66,461,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Onto Innovation by 0.5% in the third quarter. Vanguard Group Inc. now owns 5,728,291 shares of the semiconductor company’s stock valued at $730,472,000 after buying an additional 27,695 shares during the period. Retirement Systems of Alabama acquired a new stake in shares of Onto Innovation during the fourth quarter worth approximately $9,399,000. Pacer Advisors Inc. raised its stake in shares of Onto Innovation by 2,306.3% during the fourth quarter. Pacer Advisors Inc. now owns 10,997 shares of the semiconductor company’s stock valued at $1,681,000 after purchasing an additional 10,540 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Onto Innovation by 854.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 296,049 shares of the semiconductor company’s stock valued at $45,266,000 after purchasing an additional 265,042 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its stake in shares of Onto Innovation by 36.8% during the fourth quarter. Eagle Asset Management Inc. now owns 295,824 shares of the semiconductor company’s stock valued at $45,231,000 after purchasing an additional 79,530 shares in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on ONTO shares. B. Riley boosted their price target on shares of Onto Innovation from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Evercore ISI boosted their price objective on Onto Innovation from $235.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 10th. Stifel Nicolaus boosted their price objective on Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, March 25th. Needham & Company LLC restated a “hold” rating on shares of Onto Innovation in a report on Friday, May 10th. Finally, Jefferies Financial Group assumed coverage on Onto Innovation in a report on Monday, May 13th. They set a “buy” rating and a $265.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Onto Innovation presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.00.

Insider Buying and Selling

In related news, CEO Michael P. Plisinski sold 40,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total value of $7,019,200.00. Following the completion of the transaction, the chief executive officer now directly owns 235,492 shares of the company’s stock, valued at $41,324,136.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Yoon Ah Oh sold 1,685 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $180.00, for a total value of $303,300.00. Following the completion of the transaction, the vice president now directly owns 14,913 shares of the company’s stock, valued at $2,684,340. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael P. Plisinski sold 40,000 shares of Onto Innovation stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total value of $7,019,200.00. Following the transaction, the chief executive officer now directly owns 235,492 shares of the company’s stock, valued at $41,324,136.16. The disclosure for this sale can be found here. Insiders sold a total of 43,690 shares of company stock valued at $7,754,420 over the last ninety days. 0.72% of the stock is owned by company insiders.

Onto Innovation Stock Down 1.8 %

ONTO stock traded down $4.13 during midday trading on Friday, hitting $219.45. 339,306 shares of the company traded hands, compared to its average volume of 396,770. Onto Innovation Inc. has a twelve month low of $103.00 and a twelve month high of $238.13. The business has a 50 day simple moving average of $206.91 and a 200-day simple moving average of $179.28. The stock has a market capitalization of $10.81 billion, a price-to-earnings ratio of 78.10 and a beta of 1.43.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.08. The business had revenue of $228.80 million for the quarter, compared to the consensus estimate of $222.60 million. Onto Innovation had a net margin of 16.43% and a return on equity of 11.48%. Onto Innovation’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the company posted $0.92 earnings per share. Equities research analysts forecast that Onto Innovation Inc. will post 5.05 EPS for the current year.

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.