KLR Investment Advisors LLC Sells 879 Shares of Onto Innovation Inc. (NYSE:ONTO)

KLR Investment Advisors LLC reduced its position in Onto Innovation Inc. (NYSE:ONTO) by 25.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,596 shares of the semiconductor company’s stock after selling 879 shares during the quarter. KLR Investment Advisors LLC’s holdings in Onto Innovation were worth $397,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in Onto Innovation by 14,819.4% during the fourth quarter. International Assets Investment Management LLC now owns 615,575 shares of the semiconductor company’s stock worth $94,121,000 after buying an additional 611,449 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Onto Innovation by 113.7% in the third quarter. Invesco Ltd. now owns 1,074,877 shares of the semiconductor company’s stock valued at $137,068,000 after purchasing an additional 571,917 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Onto Innovation in the third quarter valued at about $34,678,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Onto Innovation by 854.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 296,049 shares of the semiconductor company’s stock valued at $45,266,000 after purchasing an additional 265,042 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Onto Innovation by 38.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 601,143 shares of the semiconductor company’s stock valued at $76,658,000 after purchasing an additional 166,819 shares during the last quarter. 98.35% of the stock is owned by institutional investors.

Onto Innovation Stock Performance

Onto Innovation stock traded up $0.45 during mid-day trading on Friday, hitting $224.42. 37,069 shares of the company traded hands, compared to its average volume of 440,006. Onto Innovation Inc. has a one year low of $94.83 and a one year high of $235.42. The stock has a market cap of $11.06 billion, a price-to-earnings ratio of 79.67 and a beta of 1.40. The stock has a fifty day moving average price of $189.44 and a 200-day moving average price of $165.16.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.10 by $0.08. The firm had revenue of $228.80 million for the quarter, compared to the consensus estimate of $222.60 million. Onto Innovation had a net margin of 16.43% and a return on equity of 11.48%. The business’s revenue was up 14.9% compared to the same quarter last year. During the same period last year, the firm posted $0.92 earnings per share. Sell-side analysts predict that Onto Innovation Inc. will post 5.01 EPS for the current year.

Insiders Place Their Bets

In other Onto Innovation news, CEO Michael P. Plisinski sold 40,000 shares of Onto Innovation stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the transaction, the chief executive officer now directly owns 235,492 shares of the company’s stock, valued at $41,324,136.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Michael P. Plisinski sold 40,000 shares of Onto Innovation stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total value of $7,019,200.00. Following the transaction, the chief executive officer now directly owns 235,492 shares of the company’s stock, valued at $41,324,136.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Yoon Ah Oh sold 2,685 shares of Onto Innovation stock in a transaction on 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 transaction, the vice president now directly owns 16,598 shares in the company, valued at $2,887,388.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,370 shares of company stock valued at $7,789,583. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Stifel Nicolaus raised their price objective on shares of Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, March 25th. Evercore ISI increased their target price on shares of Onto Innovation from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Benchmark increased their target price on shares of Onto Innovation from $180.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. B. Riley increased their target price on shares of Onto Innovation from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Finally, StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Onto Innovation currently has an average rating of “Moderate Buy” and a consensus price target of $242.00.

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.