New York Life Investment Management LLC Buys 5,411 Shares of Onto Innovation Inc. (NYSE:ONTO)

New York Life Investment Management LLC grew its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 133.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,456 shares of the semiconductor company’s stock after buying an additional 5,411 shares during the quarter. New York Life Investment Management LLC’s holdings in Onto Innovation were worth $1,446,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake 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 worth $730,472,000 after purchasing an additional 27,695 shares during the last quarter. Retirement Systems of Alabama bought a new stake in shares of Onto Innovation in the fourth quarter worth $9,399,000. Pacer Advisors Inc. grew its stake in shares of Onto Innovation by 2,306.3% in 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 last quarter. Allspring Global Investments Holdings LLC grew its stake 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 worth $45,266,000 after purchasing an additional 265,042 shares during the last quarter. Finally, Raymond James & Associates grew its stake in shares of Onto Innovation by 153.6% in the fourth quarter. Raymond James & Associates now owns 14,516 shares of the semiconductor company’s stock worth $2,219,000 after purchasing an additional 8,792 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Up 1.3 %

Onto Innovation stock opened at $211.34 on Wednesday. Onto Innovation Inc. has a twelve month low of $84.17 and a twelve month high of $213.47. The firm has a 50 day moving average price of $185.05 and a 200-day moving average price of $160.64. The company has a market capitalization of $10.38 billion, a P/E ratio of 85.91 and a beta of 1.40.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. The company had revenue of $219.00 million for the quarter, compared to analysts’ expectations of $209.06 million. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. Onto Innovation’s revenue was down 13.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.57 EPS. Equities analysts expect that Onto Innovation Inc. will post 4.7 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on ONTO. B. Riley boosted their target price on shares of Onto Innovation from $195.00 to $205.00 and gave the company a “buy” rating in a report on Friday, February 9th. Evercore ISI initiated coverage on shares of Onto Innovation in a report on Tuesday, April 16th. They set an “outperform” rating and a $235.00 price objective on the stock. Stifel Nicolaus upped their price objective on shares of Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a report on Monday, March 25th. Benchmark upped their target price on shares of Onto Innovation from $145.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Finally, StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Onto Innovation presently has an average rating of “Moderate Buy” and an average price target of $191.60.

Insider Activity at Onto Innovation

In related news, Director David Brian Miller sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total transaction of $477,372.00. Following the sale, the director now directly owns 9,008 shares in the company, valued at approximately $1,535,773.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Michael P. Plisinski sold 40,000 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 235,492 shares in the company, valued at approximately $41,324,136.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David Brian Miller sold 2,800 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total transaction of $477,372.00. Following the sale, the director now owns 9,008 shares in the company, valued at approximately $1,535,773.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,170 shares of company stock worth $8,266,955. 0.72% of the stock is owned by corporate insiders.

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.