Amalgamated Bank Purchases 8,621 Shares of Onto Innovation Inc. (NYSE:ONTO)

Amalgamated Bank increased its position in Onto Innovation Inc. (NYSE:ONTO) by 40.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,105 shares of the semiconductor company’s stock after purchasing an additional 8,621 shares during the quarter. Amalgamated Bank’s holdings in Onto Innovation were worth $4,603,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Onto Innovation by 0.5% in the third quarter. Vanguard Group Inc. now owns 5,728,291 shares of the semiconductor company’s stock valued at $730,472,000 after buying an additional 27,695 shares during the last quarter. Retirement Systems of Alabama bought a new stake in Onto Innovation in the 4th quarter valued at $9,399,000. Pacer Advisors Inc. boosted its position in Onto Innovation by 2,306.3% during the fourth quarter. Pacer Advisors Inc. now owns 10,997 shares of the semiconductor company’s stock worth $1,681,000 after purchasing an additional 10,540 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Onto Innovation by 854.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 296,049 shares of the semiconductor company’s stock valued at $45,266,000 after purchasing an additional 265,042 shares during the period. Finally, Raymond James & Associates lifted its stake in shares of Onto Innovation by 153.6% during the 4th quarter. Raymond James & Associates now owns 14,516 shares of the semiconductor company’s stock worth $2,219,000 after buying an additional 8,792 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Activity

In other news, CEO Michael P. Plisinski sold 40,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the completion of 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 legal filing with the SEC, which is available at this hyperlink. In other news, VP Yoon Ah Oh sold 1,685 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was 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 of the company’s stock, valued at approximately $2,684,340. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael P. Plisinski sold 40,000 shares of Onto Innovation stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the completion of the transaction, the chief executive officer now owns 235,492 shares of the company’s stock, valued at approximately $41,324,136.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,170 shares of company stock worth $8,266,955. Company insiders own 0.72% of the company’s stock.

Onto Innovation Trading Up 1.3 %

Shares of Onto Innovation stock opened at $211.34 on Wednesday. The company has a market cap of $10.38 billion, a P/E ratio of 85.91 and a beta of 1.40. The business has a 50-day moving average price of $185.05 and a two-hundred day moving average price of $160.64. Onto Innovation Inc. has a 1-year low of $84.17 and a 1-year high of $213.47.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 10.95% and a net margin of 14.85%. The company’s revenue was down 13.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.57 earnings per share. Equities research analysts forecast that Onto Innovation Inc. will post 4.7 EPS for the current fiscal year.

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.