Edgestream Partners L.P. Invests $4.33 Million in Onto Innovation Inc. (NYSE:ONTO)

Edgestream Partners L.P. acquired a new stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 25,978 shares of the semiconductor company's stock, valued at approximately $4,330,000. Edgestream Partners L.P. owned about 0.05% of Onto Innovation at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its holdings in Onto Innovation by 67.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,733 shares of the semiconductor company's stock valued at $567,000 after acquiring an additional 1,105 shares in the last quarter. Stephens Inc. AR lifted its stake in Onto Innovation by 25.8% in the 3rd quarter. Stephens Inc. AR now owns 1,391 shares of the semiconductor company's stock valued at $289,000 after buying an additional 285 shares in the last quarter. Van ECK Associates Corp grew its holdings in Onto Innovation by 28.5% during the 3rd quarter. Van ECK Associates Corp now owns 586 shares of the semiconductor company's stock valued at $118,000 after buying an additional 130 shares during the last quarter. Asset Management One Co. Ltd. purchased a new position in Onto Innovation during the third quarter worth $176,000. Finally, Portside Wealth Group LLC raised its holdings in shares of Onto Innovation by 49.1% in the third quarter. Portside Wealth Group LLC now owns 1,557 shares of the semiconductor company's stock worth $323,000 after acquiring an additional 513 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at Onto Innovation

In other news, SVP Srinivas Vedula sold 827 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael P. Plisinski sold 30,000 shares of Onto Innovation stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $211.24, for a total value of $6,337,200.00. Following the completion of the transaction, the chief executive officer now owns 185,492 shares of the company's stock, valued at $39,183,330.08. This trade represents a 13.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,827 shares of company stock valued at $18,182,185. 0.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ONTO has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $250.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Benchmark reaffirmed a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Stifel Nicolaus reduced 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 equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $246.88.

Onto Innovation Stock Performance

Shares of NYSE:ONTO traded up $9.43 during mid-day trading on Wednesday, hitting $134.00. 1,248,458 shares of the company traded hands, compared to its average volume of 1,051,613. The firm's 50 day simple moving average is $179.62 and its 200 day simple moving average is $184.37. The firm has a market cap of $6.60 billion, a P/E ratio of 33.01, a PEG ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a 52-week low of $121.47 and a 52-week high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. Equities research analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

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.