Onto Innovation Inc. (NYSE:ONTO) Position Increased by Swedbank AB

Swedbank AB boosted its holdings in Onto Innovation Inc. (NYSE:ONTO) by 138.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 197,000 shares of the semiconductor company’s stock after buying an additional 114,500 shares during the quarter. Swedbank AB owned 0.40% of Onto Innovation worth $32,834,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ONTO. Quarry LP increased its position in shares of Onto Innovation by 232.4% in the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Onto Innovation by 675.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 108 shares in the last quarter. Versant Capital Management Inc grew its position in Onto Innovation by 532.4% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 197 shares in the last quarter. Berbice Capital Management LLC acquired a new stake in Onto Innovation during the 4th quarter valued at $50,000. Finally, Eastern Bank purchased a new stake in shares of Onto Innovation in the third quarter valued at $65,000. Institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ONTO. Needham & Company LLC dropped their price target on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Oppenheimer reiterated an “outperform” rating and issued a $275.00 target price on shares of Onto Innovation in a report on Tuesday, December 17th. Benchmark restated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, November 1st. Jefferies Financial Group dropped their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, Cantor Fitzgerald started coverage on shares of Onto Innovation in a research note on Monday, January 13th. They set an “overweight” rating and a $250.00 target price for the company. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $253.75.

Insider Transactions at Onto Innovation

In other news, CEO Michael P. Plisinski sold 30,000 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $211.24, for a total value of $6,337,200.00. Following the completion of the sale, the chief executive officer now directly owns 185,492 shares in the company, valued at approximately $39,183,330.08. The trade was a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 15,223 shares in the company, valued at $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,827 shares of company stock worth $18,182,185. 0.72% of the stock is owned by corporate insiders.

Onto Innovation Stock Up 7.0 %

Shares of ONTO opened at $205.25 on Friday. The firm has a market cap of $10.14 billion, a price-to-earnings ratio of 55.62, a price-to-earnings-growth ratio of 1.16 and a beta of 1.29. The company’s fifty day moving average is $180.57 and its 200-day moving average is $190.62. Onto Innovation Inc. has a 12 month low of $145.15 and a 12 month high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The firm had revenue of $252.20 million for the quarter, compared to the consensus estimate of $250.85 million. During the same period in the prior year, the business posted $0.96 earnings per share. The business’s quarterly revenue was up 21.7% on a year-over-year basis. As a group, research analysts predict that Onto Innovation Inc. will post 5.22 earnings per share for the current fiscal year.

About Onto Innovation

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.