HB Wealth Management LLC Takes $217,000 Position in Onto Innovation Inc. (NYSE:ONTO)

HB Wealth Management LLC acquired a new position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,303 shares of the semiconductor company's stock, valued at approximately $217,000.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP boosted its holdings in shares of Onto Innovation by 232.4% in the second quarter. Quarry LP now owns 113 shares of the semiconductor company's stock valued at $25,000 after buying an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 108 shares during the period. Versant Capital Management Inc lifted its holdings in shares of 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 in the last quarter. Eastern Bank bought a new position in shares of Onto Innovation during the third quarter worth about $65,000. Finally, UMB Bank n.a. raised its position in Onto Innovation by 62.0% in the 3rd quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company's stock valued at $67,000 after buying an additional 124 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ONTO shares. Needham & Company LLC decreased their price target on shares of Onto Innovation from $245.00 to $230.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Jefferies Financial Group reduced their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Cantor Fitzgerald began coverage on Onto Innovation in a research report on Monday, January 13th. They set an "overweight" rating and a $250.00 price target for the company. Benchmark reaffirmed a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, November 1st. Finally, Oppenheimer reissued an "outperform" rating and issued a $275.00 price objective on shares of Onto Innovation in a report on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $253.75.

Onto Innovation Trading Down 1.7 %

Shares of NYSE:ONTO traded down $3.78 during trading on Friday, reaching $213.26. 811,981 shares of the stock were exchanged, compared to its average volume of 610,239. The firm has a market cap of $10.53 billion, a PE ratio of 57.79, a PEG ratio of 1.16 and a beta of 1.29. Onto Innovation Inc. has a 12 month low of $145.15 and a 12 month high of $238.93. The stock has a 50-day moving average price of $179.12 and a 200-day moving average price of $191.85.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.03. The business had revenue of $252.20 million during the quarter, compared to the consensus estimate of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The firm's quarterly revenue was up 21.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.96 EPS. On average, sell-side analysts expect that Onto Innovation Inc. will post 5.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction of $169,535.00. Following the sale, the senior vice president now directly owns 15,223 shares in the company, valued at $3,120,715. This represents a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael P. Plisinski sold 35,000 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the completion of the transaction, the chief executive officer now owns 150,492 shares of the company's stock, valued at $32,986,341.48. The trade was a 18.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,827 shares of company stock valued at $18,182,185 in the last quarter. Company insiders own 0.72% of the company's stock.

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.