Summitry LLC Boosts Stake in Onto Innovation Inc. (NYSE:ONTO)

Summitry LLC boosted its holdings in Onto Innovation Inc. (NYSE:ONTO) by 42.6% in the 4th quarter, HoldingsChannel reports. The fund owned 2,136 shares of the semiconductor company’s stock after acquiring an additional 638 shares during the quarter. Summitry LLC’s holdings in Onto Innovation were worth $356,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. boosted its stake in shares of Onto Innovation by 22.8% during the 4th quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock worth $66,000 after acquiring an additional 74 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its position in Onto Innovation by 7.8% during the third quarter. Northwest & Ethical Investments L.P. now owns 1,050 shares of the semiconductor company’s stock worth $218,000 after purchasing an additional 76 shares in the last quarter. Bridge City Capital LLC grew its holdings in Onto Innovation by 1.0% in the fourth quarter. Bridge City Capital LLC now owns 8,165 shares of the semiconductor company’s stock valued at $1,361,000 after purchasing an additional 78 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Onto Innovation by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company’s stock valued at $256,000 after buying an additional 81 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC raised its stake in shares of Onto Innovation by 3.9% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 2,415 shares of the semiconductor company’s stock worth $403,000 after buying an additional 90 shares during 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 news, CEO Michael P. Plisinski sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total value of $4,003,800.00. Following the transaction, the chief executive officer now directly owns 215,492 shares in the company, valued at $43,139,343.48. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $3,120,715. The trade was a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,827 shares of company stock worth $18,182,185 in the last quarter. 0.72% of the stock is owned by insiders.

Onto Innovation Trading Down 1.8 %

NYSE ONTO opened at $138.43 on Wednesday. The business’s 50-day moving average price is $169.61 and its 200 day moving average price is $179.92. Onto Innovation Inc. has a twelve month low of $121.47 and a twelve month high of $238.93. The company has a market capitalization of $6.82 billion, a PE ratio of 34.10, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share 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%. Equities analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on ONTO. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 target price on shares of Onto Innovation in a report on Friday, February 7th. 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 note on Thursday, February 20th. Benchmark restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Needham & Company LLC reiterated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Finally, 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. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $246.88.

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.