Swedbank AB Buys 114,500 Shares of Onto Innovation Inc. (NYSE:ONTO)

Swedbank AB lifted its stake in Onto Innovation Inc. (NYSE:ONTO) by 138.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 197,000 shares of the semiconductor company’s stock after acquiring an additional 114,500 shares during the period. Swedbank AB’s holdings in Onto Innovation were worth $32,834,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in ONTO. Quarry LP lifted its position in shares of Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Onto Innovation by 675.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 108 shares in the last quarter. Versant Capital Management Inc lifted its position in Onto Innovation by 532.4% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 197 shares during the period. Berbice Capital Management LLC acquired a new stake in Onto Innovation during the fourth quarter worth $50,000. Finally, Eastern Bank bought a new stake in Onto Innovation in the 3rd quarter valued at $65,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Onto Innovation

In other news, CEO Michael P. Plisinski sold 20,000 shares of Onto Innovation stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total value of $4,003,800.00. Following the completion of the sale, the chief executive officer now directly owns 215,492 shares of the company’s stock, valued at approximately $43,139,343.48. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly owns 15,223 shares in the company, valued at $3,120,715. This trade represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 85,827 shares of company stock valued at $18,182,185 over the last quarter. Corporate insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

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

Onto Innovation Stock Performance

Shares of ONTO stock opened at $205.25 on Friday. The stock’s fifty day moving average is $180.57 and its 200-day moving average is $190.62. Onto Innovation Inc. has a 52 week low of $145.15 and a 52 week high of $238.93. The stock has a market capitalization of $10.14 billion, a PE ratio of 55.62, a PEG ratio of 1.16 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The firm had revenue of $252.20 million during the quarter, compared to analysts’ expectations of $250.85 million. During the same quarter last year, the company posted $0.96 EPS. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. As a group, analysts forecast that Onto Innovation Inc. will post 5.22 earnings per share 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.