Mount Yale Investment Advisors LLC Sells 2,691 Shares of Onto Innovation Inc. (NYSE:ONTO)

Mount Yale Investment Advisors LLC lessened its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 53.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,327 shares of the semiconductor company’s stock after selling 2,691 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Onto Innovation were worth $388,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ONTO. Cerity Partners LLC grew its stake in Onto Innovation by 287.0% during the third quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock valued at $968,000 after acquiring an additional 3,458 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Onto Innovation by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company’s stock valued at $173,401,000 after purchasing an additional 13,405 shares during the period. JPMorgan Chase & Co. grew its position in shares of Onto Innovation by 12.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock valued at $416,863,000 after purchasing an additional 228,800 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Onto Innovation in the third quarter worth $14,539,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Onto Innovation by 675.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after buying an additional 108 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, 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 value of $6,337,200.00. Following the sale, the chief executive officer now owns 185,492 shares of the company’s stock, valued at $39,183,330.08. This trade represents a 13.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Srinivas Vedula sold 827 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the transaction, the senior vice president now owns 15,223 shares in the company, valued at approximately $3,120,715. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 85,827 shares of company stock worth $18,182,185. 0.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Onto Innovation Stock Performance

Shares of ONTO opened at $183.54 on Wednesday. Onto Innovation Inc. has a fifty-two week low of $145.15 and a fifty-two week high of $238.93. The firm has a market cap of $9.07 billion, a price-to-earnings ratio of 49.74, a PEG ratio of 1.16 and a beta of 1.29. The firm has a 50 day moving average price of $179.56 and a 200-day moving average price of $190.93.

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

Onto Innovation Company 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.