Nicholas Investment Partners LP Purchases 269 Shares of Onto Innovation Inc. (NYSE:ONTO)

Nicholas Investment Partners LP raised its position in shares of Onto Innovation Inc. (NYSE:ONTOFree Report) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,029 shares of the semiconductor company’s stock after acquiring an additional 269 shares during the period. Nicholas Investment Partners LP’s holdings in Onto Innovation were worth $3,368,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ONTO. Fifth Third Bancorp raised its position in Onto Innovation by 198.3% during the fourth quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 115 shares in the last quarter. Contravisory Investment Management Inc. acquired a new position in Onto Innovation during the fourth quarter valued at approximately $28,000. GAMMA Investing LLC acquired a new position in Onto Innovation during the fourth quarter valued at approximately $33,000. Huntington National Bank raised its position in Onto Innovation by 70.3% during the third quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 102 shares in the last quarter. Finally, Operose Advisors LLC acquired a new position in Onto Innovation during the third quarter valued at approximately $49,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Onto Innovation in a research note on Monday. They issued a “buy” rating and a $265.00 price objective on the stock. Evercore ISI boosted their price objective on shares of Onto Innovation from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. B. Riley boosted their price objective on shares of Onto Innovation from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Stifel Nicolaus upped their price target on shares of Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Onto Innovation in a research report on Friday, May 10th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $242.00.

Read Our Latest Report on ONTO

Insider Activity

In related news, VP Yoon Ah Oh sold 2,685 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $173.96, for a total transaction of $467,082.60. Following the sale, the vice president now owns 16,598 shares of the company’s stock, valued at $2,887,388.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Michael P. Plisinski sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total value of $7,019,200.00. Following the transaction, the chief executive officer now owns 235,492 shares in the company, valued at $41,324,136.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Yoon Ah Oh sold 2,685 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $173.96, for a total transaction of $467,082.60. Following the completion of the transaction, the vice president now owns 16,598 shares in the company, valued at approximately $2,887,388.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,370 shares of company stock valued at $7,789,583. Corporate insiders own 0.72% of the company’s stock.

Onto Innovation Trading Up 2.3 %

Shares of Onto Innovation stock traded up $5.29 on Wednesday, hitting $233.59. 469,375 shares of the company traded hands, compared to its average volume of 443,569. The company has a market cap of $11.51 billion, a P/E ratio of 83.14 and a beta of 1.40. The firm’s 50-day simple moving average is $188.03 and its 200 day simple moving average is $164.27. Onto Innovation Inc. has a 12-month low of $93.08 and a 12-month high of $234.71.

Onto Innovation (NYSE:ONTOGet Free Report) last issued its earnings results on Thursday, May 9th. The semiconductor company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.08. The company had revenue of $228.80 million for the quarter, compared to analysts’ expectations of $222.60 million. Onto Innovation had a net margin of 16.43% and a return on equity of 11.48%. The firm’s revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.92 EPS. Analysts predict that Onto Innovation Inc. will post 4.82 earnings per share for the current year.

Onto Innovation Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Onto Innovation (NYSE:ONTO)

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