Sumitomo Mitsui Trust Group Inc. Buys 290 Shares of Onto Innovation Inc. (NYSE:ONTO)

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 12.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,595 shares of the semiconductor company’s stock after purchasing an additional 290 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Onto Innovation were worth $433,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Greenwood Capital Associates LLC purchased a new stake in shares of Onto Innovation during the 4th quarter valued at about $266,000. Mather Group LLC. boosted its stake in Onto Innovation by 209.4% in the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 111 shares during the period. abrdn plc boosted its position in shares of Onto Innovation by 3.5% during the 4th quarter. abrdn plc now owns 4,953 shares of the semiconductor company’s stock valued at $831,000 after acquiring an additional 169 shares during the last quarter. Trust Point Inc. boosted its position in shares of Onto Innovation by 34.6% during the 4th quarter. Trust Point Inc. now owns 5,114 shares of the semiconductor company’s stock valued at $852,000 after acquiring an additional 1,316 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Onto Innovation by 32.3% during the 4th quarter. Jennison Associates LLC now owns 3,052 shares of the semiconductor company’s stock valued at $509,000 after acquiring an additional 745 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Price Performance

Onto Innovation stock opened at $176.68 on Friday. The stock has a market capitalization of $8.73 billion, a PE ratio of 43.52, a price-to-earnings-growth ratio of 1.09 and a beta of 1.31. Onto Innovation Inc. has a 12 month low of $145.15 and a 12 month high of $238.93. The business has a 50 day simple moving average of $186.64 and a 200-day simple moving average of $189.63.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. Onto Innovation had a return on equity of 14.41% and a net margin of 20.43%. On average, equities research analysts anticipate that Onto Innovation Inc. will post 6.46 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Michael P. Plisinski sold 30,000 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $211.24, for a total transaction of $6,337,200.00. Following the transaction, the chief executive officer now owns 185,492 shares of the company’s stock, valued at approximately $39,183,330.08. This represents a 13.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the transaction, the senior vice president now directly owns 15,223 shares in the company, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 85,827 shares of company stock valued at $18,182,185. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ONTO. Needham & Company LLC restated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Benchmark restated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. StockNews.com downgraded Onto Innovation from a “hold” rating to a “sell” rating in a report on Tuesday, February 11th. Finally, Jefferies Financial Group decreased their target price on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to MarketBeat, Onto Innovation presently has an average rating of “Moderate Buy” and an average price target of $251.25.

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.