Mirae Asset Global Investments Co. Ltd. Sells 2,586 Shares of Onto Innovation Inc. (NYSE:ONTO)

Mirae Asset Global Investments Co. Ltd. reduced its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,922 shares of the semiconductor company’s stock after selling 2,586 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.13% of Onto Innovation worth $11,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Congress Asset Management Co. increased its position in Onto Innovation by 38.1% during the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock valued at $222,670,000 after acquiring an additional 295,869 shares during the last quarter. Citigroup Inc. increased its position in Onto Innovation by 811.7% during the third quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company’s stock valued at $66,236,000 after acquiring an additional 284,115 shares during the last quarter. JPMorgan Chase & Co. increased its position in Onto Innovation by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock valued at $416,863,000 after acquiring an additional 228,800 shares during the last quarter. Barclays PLC increased its position in Onto Innovation by 1,296.7% during the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock valued at $45,079,000 after acquiring an additional 201,640 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in Onto Innovation during the third quarter valued at $30,418,000. 98.35% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction that occurred 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 completion of 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael P. Plisinski sold 35,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total value of $7,671,650.00. Following the transaction, the chief executive officer now directly owns 150,492 shares of the company’s stock, valued at approximately $32,986,341.48. The trade was a 18.87 % decrease in their ownership of the stock. 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 owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Onto Innovation Trading Up 0.6 %

NYSE:ONTO opened at $210.86 on Friday. Onto Innovation Inc. has a 12-month low of $145.15 and a 12-month high of $238.93. The stock has a 50-day moving average price of $184.54 and a 200 day moving average price of $190.24. The stock has a market capitalization of $10.41 billion, a P/E ratio of 57.14, a P/E/G ratio of 1.06 and a beta of 1.31.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. On average, research analysts predict that Onto Innovation Inc. will post 5.22 earnings per share for the current fiscal year.

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.