Sequoia Financial Advisors LLC Has $3.46 Million Position in Onto Innovation Inc. (NYSE:ONTO)

Sequoia Financial Advisors LLC reduced its holdings in shares of Onto Innovation Inc. (NYSE:ONTOFree Report) by 3.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,109 shares of the semiconductor company’s stock after selling 721 shares during the period. Sequoia Financial Advisors LLC’s holdings in Onto Innovation were worth $3,460,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Retirement Systems of Alabama boosted its position in shares of Onto Innovation by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 61,633 shares of the semiconductor company’s stock worth $11,161,000 after purchasing an additional 163 shares in the last quarter. Norden Group LLC bought a new position in shares of Onto Innovation during the 1st quarter worth about $654,000. Allspring Global Investments Holdings LLC boosted its position in shares of Onto Innovation by 58.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 470,059 shares of the semiconductor company’s stock worth $85,118,000 after purchasing an additional 174,010 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Onto Innovation by 22.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 14,766 shares of the semiconductor company’s stock worth $2,674,000 after purchasing an additional 2,669 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Onto Innovation by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 235,100 shares of the semiconductor company’s stock worth $42,572,000 after purchasing an additional 855 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Onto Innovation news, CFO Mark Slicer sold 519 shares of Onto Innovation stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $221.21, for a total transaction of $114,807.99. Following the transaction, the chief financial officer now owns 12,552 shares of the company’s stock, valued at approximately $2,776,627.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Srinivas Vedula sold 1,486 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $213.40, for a total transaction of $317,112.40. Following the completion of the sale, the senior vice president now owns 17,433 shares in the company, valued at approximately $3,720,202.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark Slicer sold 519 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $221.21, for a total transaction of $114,807.99. Following the sale, the chief financial officer now owns 12,552 shares of the company’s stock, valued at approximately $2,776,627.92. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ONTO. Needham & Company LLC reissued a “hold” rating on shares of Onto Innovation in a research report on Friday, May 10th. Jefferies Financial Group began coverage on shares of Onto Innovation in a research report on Monday, May 13th. They issued a “buy” rating and a $265.00 price target on the stock. B. Riley raised their price target on shares of Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Evercore ISI raised their price target on shares of Onto Innovation from $235.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Finally, Stifel Nicolaus raised their price target on shares of Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $248.00.

Check Out Our Latest Stock Analysis on ONTO

Onto Innovation Stock Up 0.3 %

Onto Innovation stock opened at $228.39 on Friday. Onto Innovation Inc. has a 52 week low of $103.93 and a 52 week high of $238.13. The company’s 50 day moving average price is $218.87 and its two-hundred day moving average price is $187.44. The stock has a market cap of $11.26 billion, a P/E ratio of 81.28 and a beta of 1.39.

Onto Innovation (NYSE:ONTOGet Free Report) last posted its 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. Onto Innovation had a net margin of 16.43% and a return on equity of 11.48%. The firm had revenue of $228.80 million for the quarter, compared to analysts’ expectations of $222.60 million. During the same quarter last year, the firm earned $0.92 EPS. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, equities analysts anticipate that Onto Innovation Inc. will post 5.05 EPS for the current year.

About Onto Innovation

(Free Report)

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.

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Institutional Ownership by Quarter for Onto Innovation (NYSE:ONTO)

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