American Century Companies Inc. Sells 53,335 Shares of Onto Innovation Inc. (NYSE:ONTO)

American Century Companies Inc. cut its stake in Onto Innovation Inc. (NYSE:ONTO) by 16.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 264,613 shares of the semiconductor company’s stock after selling 53,335 shares during the quarter. American Century Companies Inc. owned 0.54% of Onto Innovation worth $44,103,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Northwest & Ethical Investments L.P. grew its position in Onto Innovation by 9.5% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 1,150 shares of the semiconductor company’s stock worth $191,000 after purchasing an additional 100 shares during the period. Blueshift Asset Management LLC lifted its holdings in Onto Innovation by 28.6% in the fourth quarter. Blueshift Asset Management LLC now owns 3,252 shares of the semiconductor company’s stock valued at $542,000 after acquiring an additional 724 shares during the period. Magnetar Financial LLC lifted its holdings in Onto Innovation by 288.3% in the fourth quarter. Magnetar Financial LLC now owns 18,997 shares of the semiconductor company’s stock valued at $3,166,000 after acquiring an additional 14,105 shares during the period. Teacher Retirement System of Texas boosted its position in Onto Innovation by 28.1% in the fourth quarter. Teacher Retirement System of Texas now owns 21,683 shares of the semiconductor company’s stock worth $3,614,000 after purchasing an additional 4,762 shares during the last quarter. Finally, Xponance Inc. grew its stake in shares of Onto Innovation by 5.6% during the 4th quarter. Xponance Inc. now owns 6,804 shares of the semiconductor company’s stock valued at $1,134,000 after purchasing an additional 360 shares during the period. 98.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Benchmark reiterated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Oppenheimer reduced their price objective on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $246.88.

Insider Buying and Selling at Onto Innovation

In related news, CEO Michael P. Plisinski sold 35,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 150,492 shares in the company, valued at approximately $32,986,341.48. The trade was a 18.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the stock in a transaction that occurred on 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 directly owns 15,223 shares of the company’s stock, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,827 shares of company stock valued at $18,182,185 in the last three months. 0.72% of the stock is currently owned by corporate insiders.

Onto Innovation Stock Performance

Shares of Onto Innovation stock opened at $128.61 on Friday. Onto Innovation Inc. has a fifty-two week low of $121.47 and a fifty-two week high of $238.93. The company has a market capitalization of $6.34 billion, a P/E ratio of 31.68, a P/E/G ratio of 0.89 and a beta of 1.29. The company has a fifty day moving average of $166.46 and a 200 day moving average of $179.24.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. Analysts forecast that Onto Innovation Inc. will post 6.26 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.