Onto Innovation Inc. (NYSE:ONTO) Stake Trimmed by Citigroup Inc.

Citigroup Inc. lessened its holdings in shares of Onto Innovation Inc. (NYSE:ONTO – Get Rating) by 12.3% during the 4th quarter, HoldingsChannel reports. The fund owned 32,829 shares of the semiconductor company’s stock after selling 4,616 shares during the period. Citigroup Inc.’s holdings in Onto Innovation were worth $2,235,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its holdings in shares of Onto Innovation by 0.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 16,475 shares of the semiconductor company’s stock worth $1,122,000 after buying an additional 130 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Onto Innovation by 51.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 516 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 175 shares in the last quarter. Pictet Asset Management SA increased its position in Onto Innovation by 7.3% in the 3rd quarter. Pictet Asset Management SA now owns 3,165 shares of the semiconductor company’s stock valued at $203,000 after acquiring an additional 215 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Onto Innovation by 3.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,726 shares of the semiconductor company’s stock valued at $458,000 after acquiring an additional 242 shares in the last quarter. Finally, Ellevest Inc. boosted its stake in shares of Onto Innovation by 232.0% in the 4th quarter. Ellevest Inc. now owns 415 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 290 shares during the last quarter. Hedge funds and other institutional investors own 93.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ONTO shares. Jefferies Financial Group started coverage on shares of Onto Innovation in a research note on Thursday, April 20th. They set a “buy” rating and a $100.00 price objective on the stock. StockNews.com started coverage on shares of Onto Innovation in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Needham & Company LLC boosted their target price on shares of Onto Innovation from $75.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, February 10th. B. Riley upped their price objective on shares of Onto Innovation from $95.00 to $105.00 and gave the company a “buy” rating in a report on Friday, February 10th. Finally, Benchmark reiterated a “buy” rating and issued a $92.00 price objective (up from $85.00) on shares of Onto Innovation in a report on Friday, February 10th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $96.80.

Onto Innovation Stock Down 1.4 %

ONTO opened at $97.70 on Thursday. Onto Innovation Inc. has a twelve month low of $56.02 and a twelve month high of $101.57. The company has a 50-day simple moving average of $86.11 and a 200 day simple moving average of $80.82. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 24.36 and a beta of 1.46.

Onto Innovation (NYSE:ONTO – Get Rating) last issued its earnings results on Thursday, May 4th. The semiconductor company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. The firm had revenue of $199.17 million during the quarter, compared to the consensus estimate of $200.00 million. Onto Innovation had a return on equity of 16.09% and a net margin of 20.67%. The business’s quarterly revenue was down 17.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.31 earnings per share. Sell-side analysts anticipate that Onto Innovation Inc. will post 3.63 EPS for the current fiscal year.

Insider Activity

In other news, SVP Robert Fiordalice sold 768 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $97.20, for a total value of $74,649.60. Following the completion of the transaction, the senior vice president now owns 15,152 shares of the company’s stock, valued at $1,472,774.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.81% of the stock is currently owned by insiders.

Onto Innovation Profile

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Onto Innovation, Inc engages in designing, developing and manufacturing process control systems. It offers process control, combining global scale with an expanded portfolio of technologies that include: 3D metrology spanning the chip from nanometer-scale transistors to micron-level die-interconnects, macro defect inspection of wafers and packages, metal interconnect composition, factory analytics, and lithography for advanced semiconductor packaging.