Wells Fargo & Company MN Sells 4,395 Shares of Onto Innovation Inc. (NYSE:ONTO)

Wells Fargo & Company MN lowered its stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 9.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,697 shares of the semiconductor company's stock after selling 4,395 shares during the quarter. Wells Fargo & Company MN owned approximately 0.09% of Onto Innovation worth $7,116,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. UMB Bank n.a. lifted its stake in Onto Innovation by 22.8% in the 4th quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company's stock valued at $66,000 after purchasing an additional 74 shares during the last quarter. Bridge City Capital LLC lifted its stake in shares of Onto Innovation by 1.0% in the 4th quarter. Bridge City Capital LLC now owns 8,165 shares of the semiconductor company's stock valued at $1,361,000 after acquiring an additional 78 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Onto Innovation by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company's stock valued at $256,000 after acquiring an additional 81 shares in the last quarter. Hunter Perkins Capital Management LLC grew its position in Onto Innovation by 3.9% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 2,415 shares of the semiconductor company's stock worth $403,000 after acquiring an additional 90 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. increased its holdings 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 in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Stock Up 4.1 %

ONTO traded up $4.87 during trading on Thursday, reaching $124.86. 84,265 shares of the stock traded hands, compared to its average volume of 793,507. The stock's 50-day moving average is $132.46 and its 200 day moving average is $167.44. Onto Innovation Inc. has a 12 month low of $98.21 and a 12 month high of $238.93. The stock has a market capitalization of $6.10 billion, a PE ratio of 30.70, a P/E/G ratio of 0.89 and a beta of 1.46.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its 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%. As a group, equities research analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on ONTO shares. Benchmark restated a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Oppenheimer reduced their target price on shares of Onto Innovation from $240.00 to $150.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Jefferies Financial Group decreased their price target on shares of Onto Innovation from $245.00 to $175.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Stifel Nicolaus cut their price target on shares of Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, StockNews.com upgraded Onto Innovation from a "sell" rating to a "hold" rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $218.13.

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.