Onto Innovation Inc. (NYSE:ONTO) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 42.1% during the 4th quarter, Holdings Channel reports. The fund owned 6,342 shares of the semiconductor company’s stock after purchasing an additional 1,878 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Onto Innovation were worth $1,057,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kestra Investment Management LLC acquired a new stake in Onto Innovation during the fourth quarter worth about $26,000. Mather Group LLC. grew its holdings in Onto Innovation by 209.4% in the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 111 shares during the period. Versant Capital Management Inc grew its holdings in Onto Innovation by 532.4% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 197 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Onto Innovation in the fourth quarter valued at approximately $43,000. Finally, Berbice Capital Management LLC acquired a new stake in Onto Innovation in the fourth quarter valued at approximately $50,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Onto Innovation news, CEO Michael P. Plisinski sold 20,000 shares of Onto Innovation stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total value of $4,003,800.00. Following the sale, the chief executive officer now owns 215,492 shares in the company, valued at $43,139,343.48. The trade was a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the sale, the senior vice president now owns 15,223 shares in the company, valued at $3,120,715. This represents 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 worth $18,182,185. 0.72% of the stock is owned by corporate insiders.

Onto Innovation Stock Performance

Shares of Onto Innovation stock opened at $138.72 on Monday. Onto Innovation Inc. has a one year low of $121.47 and a one year high of $238.93. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 34.17, a PEG ratio of 0.89 and a beta of 1.29. The business’s 50 day moving average price is $177.40 and its 200 day moving average price is $182.83.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. On average, analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on ONTO shares. Benchmark reissued a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Oppenheimer dropped their price objective on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Finally, Stifel Nicolaus decreased their target price on Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $246.88.

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.