Federated Hermes Inc. Takes $852,000 Position in Onto Innovation Inc. (NYSE:ONTO)

Federated Hermes Inc. purchased a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,569 shares of the semiconductor company’s stock, valued at approximately $852,000.

A number of other large investors also recently bought and sold shares of ONTO. Fifth Third Bancorp raised its stake in Onto Innovation by 198.3% in the fourth quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock worth $26,000 after buying an additional 115 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in Onto Innovation in the fourth quarter worth approximately $28,000. Huntington National Bank raised its stake in Onto Innovation by 70.3% in the third quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock worth $31,000 after buying an additional 102 shares in the last quarter. Operose Advisors LLC bought a new position in Onto Innovation in the third quarter worth approximately $49,000. Finally, Signaturefd LLC raised its stake in Onto Innovation by 51.3% in the third quarter. Signaturefd LLC now owns 844 shares of the semiconductor company’s stock worth $108,000 after buying an additional 286 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Insider Activity

In other Onto Innovation news, VP Yoon Ah Oh sold 1,685 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $180.00, for a total value of $303,300.00. Following the sale, the vice president now directly owns 14,913 shares of the company’s stock, valued at $2,684,340. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Onto Innovation news, CEO Michael P. Plisinski sold 40,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 235,492 shares of the company’s stock, valued at $41,324,136.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Yoon Ah Oh sold 1,685 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $180.00, for a total transaction of $303,300.00. Following the completion of the sale, the vice president now directly owns 14,913 shares in the company, valued at $2,684,340. The disclosure for this sale can be found here. Insiders have sold 47,170 shares of company stock valued at $8,266,955 over the last ninety days. 0.72% of the stock is currently owned by insiders.

Onto Innovation Price Performance

Shares of ONTO opened at $185.47 on Thursday. The firm has a market capitalization of $9.11 billion, a PE ratio of 75.39 and a beta of 1.40. Onto Innovation Inc. has a 1-year low of $80.17 and a 1-year high of $199.72. The company’s fifty day moving average price is $183.07 and its 200-day moving average price is $158.16.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. The firm had revenue of $219.00 million for the quarter, compared to analyst estimates of $209.06 million. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The business’s quarterly revenue was down 13.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.57 earnings per share. As a group, research analysts anticipate that Onto Innovation Inc. will post 4.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. Stifel Nicolaus upped their price target on Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. B. Riley upped their price target on Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Benchmark upped their price target on Onto Innovation from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, Evercore ISI assumed coverage on Onto Innovation in a research report on Tuesday, April 16th. They set an “outperform” rating and a $235.00 price target on the stock. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $191.60.

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.