abrdn plc Sells 70,066 Shares of Onto Innovation Inc. (NYSE:ONTO)

abrdn plc decreased its holdings in Onto Innovation Inc. (NYSE:ONTO) by 24.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 215,703 shares of the semiconductor company’s stock after selling 70,066 shares during the quarter. abrdn plc owned approximately 0.44% of Onto Innovation worth $32,981,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Calamos Advisors LLC raised its position in Onto Innovation by 103.5% in the 4th quarter. Calamos Advisors LLC now owns 27,005 shares of the semiconductor company’s stock valued at $4,129,000 after purchasing an additional 13,735 shares during the last quarter. Xponance Inc. raised its position in Onto Innovation by 141.7% in the 4th quarter. Xponance Inc. now owns 7,061 shares of the semiconductor company’s stock valued at $1,080,000 after purchasing an additional 4,140 shares during the last quarter. Federated Hermes Inc. bought a new position in Onto Innovation in the 4th quarter valued at $852,000. Peterson Wealth Services bought a new position in Onto Innovation in the 4th quarter valued at $225,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Onto Innovation by 4.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,739 shares of the semiconductor company’s stock valued at $1,642,000 after purchasing an additional 455 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Benchmark lifted their target price on Onto Innovation from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Stifel Nicolaus lifted their target price on Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, March 25th. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. B. Riley lifted their target price on Onto Innovation from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, Evercore ISI assumed coverage on Onto Innovation in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $235.00 target price for the company. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $191.60.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, VP Yoon Ah Oh sold 1,685 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Onto Innovation news, CEO Michael P. Plisinski sold 40,000 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Yoon Ah Oh sold 1,685 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,170 shares of company stock valued at $8,266,955. Company insiders own 0.72% of the company’s stock.

Onto Innovation Stock Up 0.8 %

Shares of Onto Innovation stock opened at $170.83 on Tuesday. Onto Innovation Inc. has a 12 month low of $76.40 and a 12 month high of $199.72. The business has a fifty day simple moving average of $181.74 and a 200 day simple moving average of $156.07. The stock has a market cap of $8.39 billion, a PE ratio of 69.44 and a beta of 1.40.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The business had revenue of $219.00 million during the quarter, compared to analysts’ expectations of $209.06 million. During the same period in the previous year, the firm earned $1.57 earnings per share. The firm’s quarterly revenue was down 13.5% compared to the same quarter last year. Analysts expect that Onto Innovation Inc. will post 4.7 EPS for the current fiscal 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.