Jennison Associates LLC Sells 422 Shares of Onto Innovation Inc. (NYSE:ONTO)

Jennison Associates LLC cut its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 10.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,487 shares of the semiconductor company’s stock after selling 422 shares during the quarter. Jennison Associates LLC’s holdings in Onto Innovation were worth $533,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its position in shares of Onto Innovation by 198.3% in the fourth quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 115 shares during the period. Contravisory Investment Management Inc. bought a new position in Onto Innovation in the 4th quarter worth $28,000. Huntington National Bank increased its stake in Onto Innovation by 70.3% in the 3rd quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock worth $31,000 after buying an additional 102 shares in the last quarter. Operose Advisors LLC bought a new stake in Onto Innovation during the third quarter valued at about $49,000. Finally, Lindbrook Capital LLC lifted its position in shares of Onto Innovation by 188.5% in the fourth quarter. Lindbrook Capital LLC now owns 577 shares of the semiconductor company’s stock valued at $88,000 after acquiring an additional 377 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Trading Up 4.1 %

NYSE:ONTO opened at $189.77 on Monday. The stock has a fifty day simple moving average of $182.23 and a 200-day simple moving average of $157.30. The company has a market cap of $9.32 billion, a price-to-earnings ratio of 77.14 and a beta of 1.40. Onto Innovation Inc. has a twelve month low of $76.40 and a twelve month high of $199.72.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, February 8th. The semiconductor company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The business had revenue of $219.00 million for the quarter, compared to analyst estimates of $209.06 million. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The company’s quarterly revenue was down 13.5% compared to the same quarter last year. During the same period last year, the company posted $1.57 earnings per share. As a group, equities research analysts predict that Onto Innovation Inc. will post 4.7 EPS for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In other news, Director David Brian Miller sold 2,800 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total transaction of $477,372.00. Following the transaction, the director now owns 9,008 shares of the company’s stock, valued at approximately $1,535,773.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Onto Innovation news, VP Yoon Ah Oh sold 1,685 shares of Onto Innovation stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $180.00, for a total value of $303,300.00. Following the transaction, the vice president now owns 14,913 shares in the company, valued at $2,684,340. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Brian Miller sold 2,800 shares of Onto Innovation stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total transaction of $477,372.00. Following the completion of the transaction, the director now directly owns 9,008 shares in the company, valued at approximately $1,535,773.92. The disclosure for this sale can be found here. Insiders sold a total of 47,170 shares of company stock valued at $8,266,955 in the last ninety days. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

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

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.