Brighton Jones LLC Sells 2,666 Shares of Onto Innovation Inc. (NYSE:ONTO)

Brighton Jones LLC lowered its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 31.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,885 shares of the semiconductor company’s stock after selling 2,666 shares during the quarter. Brighton Jones LLC’s holdings in Onto Innovation were worth $981,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ONTO. Quarry LP lifted its position in Onto Innovation by 232.4% in the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after buying an additional 79 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 108 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Onto Innovation by 532.4% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 197 shares during the period. Eastern Bank bought a new position in Onto Innovation during the 3rd quarter valued at about $65,000. Finally, UMB Bank n.a. raised its position in Onto Innovation by 62.0% in the 3rd quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock worth $67,000 after purchasing an additional 124 shares during the period. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Price Performance

Shares of Onto Innovation stock opened at $213.26 on Friday. Onto Innovation Inc. has a 1 year low of $145.15 and a 1 year high of $238.93. The stock has a market cap of $10.53 billion, a price-to-earnings ratio of 57.79, a PEG ratio of 1.16 and a beta of 1.29. The firm’s 50-day moving average is $179.12 and its two-hundred day moving average is $191.85.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. The firm had revenue of $252.20 million for the quarter, compared to the consensus estimate of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The company’s quarterly revenue was up 21.7% on a year-over-year basis. During the same period last year, the firm earned $0.96 earnings per share. On average, equities analysts expect that Onto Innovation Inc. will post 5.22 earnings per share for the current year.

Insider Transactions at Onto Innovation

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ONTO. Needham & Company LLC cut their target price on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Cantor Fitzgerald began coverage on Onto Innovation in a research note on Monday, January 13th. They issued an “overweight” rating and a $250.00 target price on the stock. Oppenheimer reiterated an “outperform” rating and set a $275.00 target price on shares of Onto Innovation in a research report on Tuesday, December 17th. Benchmark reaffirmed a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, November 1st. Finally, Jefferies Financial Group decreased their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $253.75.

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.