Osterweis Capital Management Inc. Sells 8,050 Shares of Onto Innovation Inc. (NYSE:ONTO)

Osterweis Capital Management Inc. cut its position in Onto Innovation Inc. (NYSE:ONTO) by 20.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 30,647 shares of the semiconductor company’s stock after selling 8,050 shares during the quarter. Osterweis Capital Management Inc.’s holdings in Onto Innovation were worth $5,108,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ONTO. MML Investors Services LLC increased its holdings in Onto Innovation by 6.6% during the 3rd quarter. MML Investors Services LLC now owns 3,718 shares of the semiconductor company’s stock valued at $772,000 after purchasing an additional 230 shares in the last quarter. Barclays PLC increased its stake in shares of Onto Innovation by 1,296.7% in the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock valued at $45,079,000 after buying an additional 201,640 shares in the last quarter. Morse Asset Management Inc raised its holdings in shares of Onto Innovation by 6.4% in the third quarter. Morse Asset Management Inc now owns 16,749 shares of the semiconductor company’s stock valued at $3,476,000 after buying an additional 1,010 shares during the last quarter. Sanctuary Advisors LLC lifted its position in Onto Innovation by 108.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 2,370 shares of the semiconductor company’s stock worth $492,000 after buying an additional 1,232 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in Onto Innovation by 4.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company’s stock worth $288,320,000 after acquiring an additional 54,868 shares during the last quarter. 98.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Stifel Nicolaus dropped their price target on shares of Onto Innovation from $200.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday. Oppenheimer reduced their price target on Onto Innovation from $240.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Finally, Benchmark reiterated a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.13.

Insider Buying and Selling

In other news, CEO Michael P. Plisinski sold 35,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total value of $7,671,650.00. Following the completion of the sale, the chief executive officer now owns 150,492 shares of the company’s stock, valued at approximately $32,986,341.48. This represents a 18.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.72% of the stock is currently owned by corporate insiders.

Onto Innovation Price Performance

Shares of Onto Innovation stock opened at $114.54 on Thursday. The business has a 50-day moving average of $138.51 and a two-hundred day moving average of $170.59. Onto Innovation Inc. has a 1 year low of $98.21 and a 1 year high of $238.93. The company has a market capitalization of $5.59 billion, a P/E ratio of 28.21, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (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%. On average, equities analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

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.