Bridge City Capital LLC Increases Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Bridge City Capital LLC grew its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,165 shares of the semiconductor company’s stock after purchasing an additional 78 shares during the quarter. Bridge City Capital LLC’s holdings in Onto Innovation were worth $1,361,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ONTO. LPL Financial LLC lifted its holdings in Onto Innovation by 35.3% in the 4th quarter. LPL Financial LLC now owns 35,672 shares of the semiconductor company’s stock worth $5,945,000 after buying an additional 9,310 shares during the period. Fox Run Management L.L.C. grew its stake in shares of Onto Innovation by 108.3% in the fourth quarter. Fox Run Management L.L.C. now owns 8,766 shares of the semiconductor company’s stock worth $1,461,000 after acquiring an additional 4,558 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Onto Innovation during the fourth quarter valued at approximately $1,671,000. Hillsdale Investment Management Inc. purchased a new position in shares of Onto Innovation in the fourth quarter worth $750,000. Finally, Sei Investments Co. boosted its holdings in shares of Onto Innovation by 4.1% during the 4th quarter. Sei Investments Co. now owns 204,179 shares of the semiconductor company’s stock valued at $34,031,000 after acquiring an additional 8,086 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Trading Down 1.4 %

ONTO opened at $135.73 on Friday. The firm has a market capitalization of $6.69 billion, a PE ratio of 33.43, a P/E/G ratio of 0.89 and a beta of 1.29. The firm has a 50 day moving average of $171.89 and a two-hundred day moving average of $180.58. Onto Innovation Inc. has a 12-month low of $121.47 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. As a group, analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Insider Activity

In related news, SVP Srinivas Vedula sold 827 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 15,223 shares in the company, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael P. Plisinski sold 35,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the sale, the chief executive officer now directly owns 150,492 shares in the company, valued at $32,986,341.48. This represents a 18.87 % 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 in the last ninety days. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Oppenheimer reduced 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 report on Thursday, February 20th. Stifel Nicolaus cut their price target on Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a report on Friday, February 7th. Needham & Company LLC restated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Benchmark reissued a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $246.88.

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.