Legal & General Group Plc Sells 5,962 Shares of Onto Innovation Inc. (NYSE:ONTO)

Legal & General Group Plc cut its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 5.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 98,799 shares of the semiconductor company's stock after selling 5,962 shares during the quarter. Legal & General Group Plc owned about 0.20% of Onto Innovation worth $16,467,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ONTO. MML Investors Services LLC raised its position in shares of Onto Innovation by 6.6% in the third quarter. MML Investors Services LLC now owns 3,718 shares of the semiconductor company's stock valued at $772,000 after purchasing an additional 230 shares during the period. Barclays PLC raised its holdings in Onto Innovation by 1,296.7% in the 3rd 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 period. Geode Capital Management LLC lifted its position in Onto Innovation by 1.6% during the third quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company's stock worth $173,401,000 after acquiring an additional 13,405 shares during the last quarter. Morse Asset Management Inc boosted its holdings in shares of Onto Innovation by 6.4% during the third quarter. Morse Asset Management Inc now owns 16,749 shares of the semiconductor company's stock worth $3,476,000 after acquiring an additional 1,010 shares during the period. Finally, Sanctuary Advisors LLC increased its stake in shares of Onto Innovation by 108.3% during the third quarter. Sanctuary Advisors LLC now owns 2,370 shares of the semiconductor company's stock worth $492,000 after purchasing an additional 1,232 shares during the period. Institutional investors own 98.35% of the company's stock.

Analyst Ratings Changes

ONTO has been the subject of several recent research reports. Oppenheimer reduced their price target on Onto Innovation from $240.00 to $150.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Needham & Company LLC restated a "buy" rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Stifel Nicolaus dropped their price objective on shares of Onto Innovation from $200.00 to $180.00 and set a "buy" rating for the company in a research note on Tuesday. Jefferies Financial Group decreased their target price 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. Finally, StockNews.com upgraded shares of Onto Innovation from a "sell" rating to a "hold" rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $218.13.

Onto Innovation Stock Performance

Shares of NYSE ONTO traded up $0.03 during trading hours on Friday, hitting $114.92. 613,059 shares of the stock were exchanged, compared to its average volume of 792,568. Onto Innovation Inc. has a 1-year low of $98.21 and a 1-year high of $238.93. The company has a market cap of $5.61 billion, a PE ratio of 28.30, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46. The company's fifty day simple moving average is $135.91 and its two-hundred day simple moving average is $169.36.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (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%. As a group, sell-side analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Insider Activity at Onto Innovation

In related news, 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 transaction of $7,671,650.00. Following the sale, the chief executive officer now owns 150,492 shares of the company's stock, valued at $32,986,341.48. This trade represents a 18.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.72% of the stock is currently owned by insiders.

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.