Blueshift Asset Management LLC Has $542,000 Stake in Onto Innovation Inc. (NYSE:ONTO)

Blueshift Asset Management LLC increased its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 28.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,252 shares of the semiconductor company’s stock after acquiring an additional 724 shares during the period. Blueshift Asset Management LLC’s holdings in Onto Innovation were worth $542,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ONTO. Kestra Investment Management LLC acquired a new stake in shares of Onto Innovation during the fourth quarter worth $26,000. Mather Group LLC. increased its stake in 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 last quarter. Versant Capital Management Inc increased its stake in Onto Innovation by 532.4% in the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 197 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Onto Innovation in the 4th quarter valued at $43,000. Finally, Berbice Capital Management LLC acquired a new stake in Onto Innovation in the 4th quarter valued at $50,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Stock Performance

Shares of ONTO stock opened at $137.55 on Friday. The company has a market capitalization of $6.78 billion, a price-to-earnings ratio of 33.88, a PEG ratio of 0.89 and a beta of 1.29. The company has a 50-day simple moving average of $172.97 and a 200 day simple moving average of $181.16. Onto Innovation Inc. has a 52 week low of $121.47 and a 52 week high of $238.93.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, topping 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%. Sell-side analysts forecast that Onto Innovation Inc. will post 6.26 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ONTO shares. Stifel Nicolaus lowered their price target on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Oppenheimer lowered their price objective on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Finally, Benchmark restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Onto Innovation has an average rating of “Moderate Buy” and a consensus price target of $246.88.

Insider Buying and Selling

In other Onto Innovation news, CEO Michael P. Plisinski sold 20,000 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were 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 owns 215,492 shares of the company’s stock, valued at $43,139,343.48. The trade was a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Srinivas Vedula sold 827 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now directly owns 15,223 shares of the company’s stock, valued at $3,120,715. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 85,827 shares of company stock valued at $18,182,185. Company insiders own 0.72% of the company’s stock.

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.