TimesSquare Capital Management LLC Grows Stake in Onto Innovation Inc. (NYSE:ONTO)

TimesSquare Capital Management LLC grew its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 47.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,376 shares of the semiconductor company’s stock after purchasing an additional 49,795 shares during the period. TimesSquare Capital Management LLC owned approximately 0.31% of Onto Innovation worth $25,730,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Creative Planning increased its stake in shares of Onto Innovation by 1.8% during the third quarter. Creative Planning now owns 28,215 shares of the semiconductor company’s stock valued at $5,856,000 after purchasing an additional 489 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Onto Innovation by 28,066.7% during the third quarter. Blue Trust Inc. now owns 845 shares of the semiconductor company’s stock valued at $186,000 after purchasing an additional 842 shares in the last quarter. Raymond James & Associates increased its stake in shares of Onto Innovation by 106.7% during the third quarter. Raymond James & Associates now owns 23,324 shares of the semiconductor company’s stock valued at $4,841,000 after purchasing an additional 12,040 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Onto Innovation by 2.4% during the third quarter. Sequoia Financial Advisors LLC now owns 20,113 shares of the semiconductor company’s stock valued at $4,175,000 after purchasing an additional 480 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of Onto Innovation by 33.2% during the third quarter. Signaturefd LLC now owns 999 shares of the semiconductor company’s stock valued at $207,000 after purchasing an additional 249 shares in the last quarter. 98.35% of the stock is owned by institutional investors.

Onto Innovation Price Performance

Shares of ONTO stock opened at $170.67 on Thursday. The company has a market capitalization of $8.43 billion, a price-to-earnings ratio of 42.04, a PEG ratio of 0.93 and a beta of 1.31. The company’s fifty day moving average price is $186.99 and its 200-day moving average price is $189.75. Onto Innovation Inc. has a one year low of $145.15 and a one year high of $238.93.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (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%. Equities research analysts expect that Onto Innovation Inc. will post 6.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ONTO shares. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. StockNews.com cut shares of Onto Innovation from a “hold” rating to a “sell” rating in a report on Tuesday, February 11th. Stifel Nicolaus dropped their target price on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Jefferies Financial Group decreased their price target on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Benchmark reiterated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $251.25.

Insiders Place Their Bets

In other Onto Innovation news, CEO Michael P. Plisinski sold 20,000 shares of Onto Innovation 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 transaction, the chief executive officer now directly owns 215,492 shares of the company’s stock, valued at $43,139,343.48. The trade was a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total transaction of $169,535.00. Following the transaction, the senior vice president now directly owns 15,223 shares of the company’s stock, valued at $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,827 shares of company stock valued at $18,182,185 in the last three months. Corporate insiders own 0.72% of the company’s stock.

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.