Swiss National Bank Buys 900 Shares of Onto Innovation Inc. (NYSE:ONTO)

Swiss National Bank grew its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,141 shares of the semiconductor company’s stock after buying an additional 900 shares during the quarter. Swiss National Bank owned 0.20% of Onto Innovation worth $16,190,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Onto Innovation during the third quarter worth about $478,000. KBC Group NV boosted its holdings in shares of Onto Innovation by 10.3% during the third quarter. KBC Group NV now owns 1,292 shares of the semiconductor company’s stock worth $268,000 after purchasing an additional 121 shares during the period. Huntington National Bank boosted its holdings in shares of Onto Innovation by 26.3% during the third quarter. Huntington National Bank now owns 423 shares of the semiconductor company’s stock worth $88,000 after purchasing an additional 88 shares during the period. OneDigital Investment Advisors LLC boosted its holdings in shares of Onto Innovation by 32.6% during the third quarter. OneDigital Investment Advisors LLC now owns 2,041 shares of the semiconductor company’s stock worth $424,000 after purchasing an additional 502 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Onto Innovation by 52.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,435 shares of the semiconductor company’s stock worth $298,000 after purchasing an additional 493 shares during the period. 98.35% of the stock is owned by institutional investors.

Onto Innovation Stock Performance

ONTO stock opened at $134.95 on Wednesday. The firm has a 50 day moving average price of $175.14 and a 200-day moving average price of $181.77. Onto Innovation Inc. has a 52-week low of $121.47 and a 52-week high of $238.93. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 0.89 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) 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%. As a group, sell-side analysts forecast that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Michael P. Plisinski sold 35,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 150,492 shares of the company’s stock, valued at $32,986,341.48. This trade represents a 18.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Srinivas Vedula sold 827 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 15,223 shares of the company’s stock, valued at $3,120,715. This trade represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,827 shares of company stock worth $18,182,185. Insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ONTO. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. Stifel Nicolaus dropped their target price on shares of 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 issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Oppenheimer lowered their price objective on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 price objective on shares of Onto Innovation in a report 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. Based on data from MarketBeat.com, Onto Innovation presently has a consensus rating of “Moderate Buy” and an average 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.