Shelton Capital Management Sells 92 Shares of Onto Innovation Inc. (NYSE:ONTO)

Shelton Capital Management reduced its position in Onto Innovation Inc. (NYSE:ONTO) by 4.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,847 shares of the semiconductor company’s stock after selling 92 shares during the quarter. Shelton Capital Management’s holdings in Onto Innovation were worth $308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in ONTO. Kestra Investment Management LLC purchased a new stake in Onto Innovation in the 4th quarter worth about $26,000. Mather Group LLC. increased its stake in shares of Onto Innovation by 209.4% in the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 111 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Onto Innovation by 532.4% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 197 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Onto Innovation during the 4th quarter valued at approximately $43,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Onto Innovation in the 4th quarter worth approximately $47,000. 98.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ONTO. Jefferies Financial Group lowered their target price on shares of Onto Innovation from $245.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Needham & Company LLC restated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Benchmark reiterated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Oppenheimer lowered their price target on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.88.

Insider Buying and Selling at Onto Innovation

In other news, SVP Srinivas Vedula sold 827 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the sale, the senior vice president now directly owns 15,223 shares in the company, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael P. Plisinski sold 30,000 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $211.24, for a total transaction of $6,337,200.00. Following the transaction, the chief executive officer now directly owns 185,492 shares in the company, valued at approximately $39,183,330.08. This represents a 13.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock worth $18,182,185 over the last 90 days. Corporate insiders own 0.72% of the company’s stock.

Onto Innovation Trading Down 12.3 %

Shares of NYSE ONTO opened at $116.91 on Friday. The business has a 50-day moving average of $145.18 and a 200-day moving average of $172.92. The firm has a market capitalization of $5.76 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 0.89 and a beta of 1.46. Onto Innovation Inc. has a 12 month low of $98.21 and a 12 month high of $238.93.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. On average, analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Onto Innovation 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.