Olympiad Research LP Takes Position in Onto Innovation Inc. (NYSE:ONTO)

Olympiad Research LP acquired a new stake in Onto Innovation Inc. (NYSE:ONTO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,478 shares of the semiconductor company’s stock, valued at approximately $246,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ONTO. Congress Asset Management Co. increased its position in Onto Innovation by 38.1% during the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after purchasing an additional 295,869 shares during the last quarter. Citigroup Inc. increased its position in Onto Innovation by 811.7% during the third quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company’s stock worth $66,236,000 after purchasing an additional 284,115 shares during the last quarter. JPMorgan Chase & Co. increased its position in Onto Innovation by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after purchasing an additional 228,800 shares during the last quarter. Barclays PLC increased its position in Onto Innovation by 1,296.7% during the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock worth $45,079,000 after purchasing an additional 201,640 shares during the last quarter. Finally, FMR LLC increased its position in shares of Onto Innovation by 20.5% in the third quarter. FMR LLC now owns 825,682 shares of the semiconductor company’s stock worth $171,379,000 after acquiring an additional 140,659 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the 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 transaction, the senior vice president now directly owns 15,223 shares in the company, valued at $3,120,715. This represents a 5.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael P. Plisinski sold 35,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the transaction, the chief executive officer now owns 150,492 shares in the company, valued at $32,986,341.48. This trade represents a 18.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock worth $18,182,185 in the last ninety days. 0.72% of the stock is owned by insiders.

Onto Innovation Trading Down 4.7 %

Shares of ONTO stock opened at $159.23 on Monday. The company has a market capitalization of $7.86 billion, a PE ratio of 39.22, a price-to-earnings-growth ratio of 0.89 and a beta of 1.31. The firm has a fifty day simple moving average of $186.90 and a 200-day simple moving average of $189.74. Onto Innovation Inc. has a twelve month low of $145.15 and a twelve month high of $238.93.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, beating the consensus estimate 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 predict that Onto Innovation Inc. will post 6.26 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Onto Innovation from a “hold” rating to a “sell” rating in a research report on Tuesday, February 11th. Jefferies Financial Group dropped their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Benchmark reissued a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Oppenheimer dropped their price objective on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Onto Innovation currently has a consensus rating of “Moderate Buy” and an average price target of $246.88.

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.