Onto Innovation Inc. (NYSE:ONTO) Shares Sold by abrdn plc

abrdn plc decreased its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 24.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 215,703 shares of the semiconductor company's stock after selling 70,066 shares during the period. abrdn plc owned about 0.44% of Onto Innovation worth $32,981,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ONTO. Calamos Advisors LLC raised its position in Onto Innovation by 103.5% in the fourth quarter. Calamos Advisors LLC now owns 27,005 shares of the semiconductor company's stock worth $4,129,000 after acquiring an additional 13,735 shares during the period. Xponance Inc. raised its position in Onto Innovation by 141.7% in the fourth quarter. Xponance Inc. now owns 7,061 shares of the semiconductor company's stock worth $1,080,000 after acquiring an additional 4,140 shares during the period. Federated Hermes Inc. bought a new position in Onto Innovation in the fourth quarter worth approximately $852,000. Peterson Wealth Services bought a new position in Onto Innovation in the fourth quarter worth approximately $225,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Onto Innovation by 4.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,739 shares of the semiconductor company's stock worth $1,642,000 after acquiring an additional 455 shares during the period. Institutional investors own 98.35% of the company's stock.

Analysts Set New Price Targets

ONTO has been the topic of several recent research reports. B. Riley increased their price target on shares of Onto Innovation from $195.00 to $205.00 and gave the stock a "buy" rating in a research report on Friday, February 9th. StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Monday, February 12th. Stifel Nicolaus increased their price objective on shares of Onto Innovation from $188.00 to $215.00 and gave the stock a "buy" rating in a research note on Monday, March 25th. Benchmark increased their price objective on shares of Onto Innovation from $145.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, February 9th. Finally, Evercore ISI initiated coverage on shares of Onto Innovation in a research note on Tuesday, April 16th. They issued an "outperform" rating and a $235.00 price objective for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Onto Innovation has a consensus rating of "Moderate Buy" and an average target price of $191.60.

Onto Innovation Trading Up 3.1 %

ONTO traded up $5.33 during trading on Tuesday, hitting $176.10. 343,749 shares of the company traded hands, compared to its average volume of 418,797. Onto Innovation Inc. has a 1 year low of $76.40 and a 1 year high of $199.72. The stock's 50-day simple moving average is $181.74 and its two-hundred day simple moving average is $156.07. The company has a market cap of $8.65 billion, a PE ratio of 71.41 and a beta of 1.40.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.99 by $0.07. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The business had revenue of $219.00 million during the quarter, compared to analyst estimates of $209.06 million. During the same quarter last year, the business earned $1.57 earnings per share. Onto Innovation's quarterly revenue was down 13.5% compared to the same quarter last year. Equities analysts expect that Onto Innovation Inc. will post 4.7 EPS for the current year.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, VP Yoon Ah Oh sold 2,685 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $173.96, for a total transaction of $467,082.60. Following the completion of the transaction, the vice president now owns 16,598 shares in the company, valued at $2,887,388.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director David Brian Miller sold 2,800 shares of the firm's stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total value of $477,372.00. Following the completion of the sale, the director now owns 9,008 shares in the company, valued at approximately $1,535,773.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Yoon Ah Oh sold 2,685 shares of the firm's stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $173.96, for a total transaction of $467,082.60. Following the completion of the sale, the vice president now owns 16,598 shares of the company's stock, valued at approximately $2,887,388.08. The disclosure for this sale can be found here. Insiders sold 47,170 shares of company stock worth $8,266,955 over the last 90 days. 0.72% of the stock is 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.