Park Place Capital Corp Has $42,000 Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Park Place Capital Corp lowered its stake in Onto Innovation Inc. (NYSE:ONTO) by 23.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 252 shares of the semiconductor company’s stock after selling 78 shares during the quarter. Park Place Capital Corp’s holdings in Onto Innovation were worth $42,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Quarry LP lifted its holdings in Onto Innovation by 232.4% during the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after buying an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 108 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Onto Innovation by 532.4% during the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 197 shares in the last quarter. Eastern Bank acquired a new position in Onto Innovation during the third quarter worth $65,000. Finally, UMB Bank n.a. raised its holdings in shares of Onto Innovation by 62.0% in the 3rd quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock worth $67,000 after acquiring an additional 124 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Insider Buying and Selling at Onto Innovation

In related news, CEO Michael P. Plisinski sold 30,000 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $211.24, for a total value of $6,337,200.00. Following the completion of the transaction, the chief executive officer now directly owns 185,492 shares of the company’s stock, valued at $39,183,330.08. This represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Srinivas Vedula sold 827 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the transaction, the senior vice president now directly owns 15,223 shares of the company’s stock, valued at $3,120,715. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 85,827 shares of company stock worth $18,182,185. 0.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ONTO shares. Cantor Fitzgerald began coverage on Onto Innovation in a research report on Monday, January 13th. They issued an “overweight” rating and a $250.00 price target for the company. Jefferies Financial Group lowered their price target on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Needham & Company LLC dropped their price objective on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Benchmark reaffirmed a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, November 1st. Finally, Oppenheimer restated an “outperform” rating and issued a $275.00 price objective on shares of Onto Innovation in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $253.75.

Onto Innovation Stock Down 3.6 %

NYSE ONTO opened at $216.47 on Friday. The stock’s 50-day simple moving average is $176.99 and its two-hundred day simple moving average is $191.81. Onto Innovation Inc. has a twelve month low of $145.15 and a twelve month high of $238.93. The company has a market capitalization of $10.69 billion, a price-to-earnings ratio of 58.66, a PEG ratio of 1.13 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. The company had revenue of $252.20 million during the quarter, compared to analysts’ expectations of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The firm’s revenue was up 21.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 EPS. On average, equities analysts expect that Onto Innovation Inc. will post 5.22 earnings per share for the current fiscal 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.