Pitcairn Co. Sells 248 Shares of Onto Innovation Inc. (NYSE:ONTO)

Pitcairn Co. lessened its holdings in Onto Innovation Inc. (NYSE:ONTO) by 9.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,511 shares of the semiconductor company’s stock after selling 248 shares during the period. Pitcairn Co.’s holdings in Onto Innovation were worth $419,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. ExodusPoint Capital Management LP acquired a new position in Onto Innovation in the 4th quarter valued at $3,757,000. Nicolet Advisory Services LLC lifted its position in Onto Innovation by 12.4% during the 4th quarter. Nicolet Advisory Services LLC now owns 2,520 shares of the semiconductor company’s stock worth $420,000 after acquiring an additional 278 shares during the last quarter. Cynosure Group LLC bought a new stake in Onto Innovation during the fourth quarter valued at about $298,000. Huntington National Bank grew its position in shares of Onto Innovation by 73.0% in the fourth quarter. Huntington National Bank now owns 732 shares of the semiconductor company’s stock valued at $122,000 after purchasing an additional 309 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Onto Innovation by 72.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 870,250 shares of the semiconductor company’s stock worth $145,045,000 after purchasing an additional 364,853 shares during the period. 98.35% of the stock is currently owned by institutional investors.

Onto Innovation Trading Down 4.7 %

NYSE ONTO opened at $104.63 on Friday. Onto Innovation Inc. has a 1-year low of $98.21 and a 1-year high of $238.93. The stock’s 50 day moving average is $154.44 and its two-hundred day moving average is $176.13. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 0.89 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. On average, analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Srinivas Vedula sold 827 shares of Onto Innovation 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 completion of the transaction, the senior vice president now owns 15,223 shares in the company, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael P. Plisinski sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $211.24, for a total value of $6,337,200.00. Following the completion of the transaction, the chief executive officer now directly owns 185,492 shares in the company, valued at $39,183,330.08. The trade was a 13.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,827 shares of company stock worth $18,182,185 in the last quarter. 0.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Jefferies Financial Group decreased their price target on shares of Onto Innovation from $245.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Oppenheimer cut their price objective on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Finally, Stifel Nicolaus set a $200.00 price objective on Onto Innovation and gave the stock a “buy” rating in a research report on Friday, March 28th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $231.88.

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.