Onto Innovation Inc. (NYSE:ONTO) Shares Purchased by Summitry LLC

Summitry LLC boosted its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 42.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,136 shares of the semiconductor company’s stock after buying an additional 638 shares during the quarter. Summitry LLC’s holdings in Onto Innovation were worth $356,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Kestra Investment Management LLC acquired a new stake in shares of Onto Innovation in the fourth quarter valued at $26,000. Mather Group LLC. boosted its stake in shares of Onto Innovation by 209.4% in the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 111 shares during the period. Versant Capital Management Inc grew its position 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 worth $39,000 after buying an additional 197 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Onto Innovation in the fourth quarter valued at approximately $43,000. Finally, Berbice Capital Management LLC purchased a new position in Onto Innovation in the fourth quarter worth approximately $50,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on ONTO. StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Benchmark restated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Stifel Nicolaus dropped their price objective on Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $250.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Onto Innovation has an average rating of “Moderate Buy” and a consensus target price of $246.88.

Insider Activity

In other news, SVP Srinivas Vedula sold 827 shares of the business’s 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 transaction, the senior vice president now owns 15,223 shares of the company’s stock, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael P. Plisinski sold 35,000 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 150,492 shares of the company’s stock, valued at approximately $32,986,341.48. This represents a 18.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 85,827 shares of company stock valued at $18,182,185. Insiders own 0.72% of the company’s stock.

Onto Innovation Stock Down 1.8 %

NYSE:ONTO opened at $138.43 on Wednesday. Onto Innovation Inc. has a 52-week low of $121.47 and a 52-week high of $238.93. The stock’s 50 day moving average price is $169.61 and its 200 day moving average price is $179.92. The company has a market capitalization of $6.82 billion, a PE ratio of 34.10, a P/E/G ratio of 0.89 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, beating 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%. As a group, sell-side analysts anticipate that Onto Innovation Inc. will post 6.26 EPS 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.