Berbice Capital Management LLC Makes New $50,000 Investment in Onto Innovation Inc. (NYSE:ONTO)

Berbice Capital Management LLC bought a new position in shares of Onto Innovation Inc. (NYSE:ONTO) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 300 shares of the semiconductor company’s stock, valued at approximately $50,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Renaissance Technologies LLC bought a new position in shares of Onto Innovation during the 2nd quarter worth about $5,878,000. Hsbc Holdings PLC increased its stake in Onto Innovation by 7.5% in the second quarter. Hsbc Holdings PLC now owns 3,584 shares of the semiconductor company’s stock valued at $791,000 after acquiring an additional 250 shares during the period. Pacer Advisors Inc. increased its stake in Onto Innovation by 1.7% in the second quarter. Pacer Advisors Inc. now owns 13,573 shares of the semiconductor company’s stock valued at $2,980,000 after acquiring an additional 232 shares during the period. Evergreen Capital Management LLC increased its stake in Onto Innovation by 2.9% in the second quarter. Evergreen Capital Management LLC now owns 2,975 shares of the semiconductor company’s stock valued at $653,000 after acquiring an additional 85 shares during the period. Finally, Bank of Montreal Can increased its stake in Onto Innovation by 10.4% in the second quarter. Bank of Montreal Can now owns 6,823 shares of the semiconductor company’s stock valued at $1,507,000 after acquiring an additional 640 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity at Onto Innovation

In other news, CEO Michael P. Plisinski sold 20,000 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the completion of the sale, the chief executive officer now owns 215,492 shares of the company’s stock, valued at $43,139,343.48. This represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction 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 approximately $3,120,715. This trade represents a 5.15 % 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 ninety days. Company insiders own 0.72% of the company’s stock.

Onto Innovation Trading Up 0.0 %

Shares of ONTO stock opened at $217.08 on Friday. Onto Innovation Inc. has a 1 year low of $145.15 and a 1 year high of $238.93. The firm’s 50 day moving average is $176.99 and its 200-day moving average is $191.81. The firm has a market capitalization of $10.72 billion, a price-to-earnings ratio of 58.57, a PEG ratio of 1.16 and a beta of 1.29.

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

About Onto Innovation

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.