Bailard Inc. Makes New $572,000 Investment in Onto Innovation Inc. (NYSE:ONTO)

Bailard Inc. bought a new position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 3,434 shares of the semiconductor company's stock, valued at approximately $572,000.

Other institutional investors have also recently bought and sold shares of the company. Norden Group LLC lifted its holdings in shares of Onto Innovation by 6.3% in the fourth quarter. Norden Group LLC now owns 3,362 shares of the semiconductor company's stock valued at $560,000 after purchasing an additional 198 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Onto Innovation by 51.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 548 shares of the semiconductor company's stock valued at $92,000 after buying an additional 185 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in Onto Innovation by 8.0% in the 4th quarter. Mutual of America Capital Management LLC now owns 47,588 shares of the semiconductor company's stock valued at $7,931,000 after acquiring an additional 3,533 shares in the last quarter. VELA Investment Management LLC boosted its position in Onto Innovation by 48.5% during the 4th quarter. VELA Investment Management LLC now owns 4,645 shares of the semiconductor company's stock worth $774,000 after acquiring an additional 1,517 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Onto Innovation during the 4th quarter worth approximately $41,946,000. Institutional investors own 98.35% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ONTO. Needham & Company LLC reissued a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Oppenheimer cut their price target on shares of Onto Innovation from $275.00 to $240.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. StockNews.com upgraded Onto Innovation from a "sell" rating to a "hold" rating in a report on Thursday, February 27th. Cantor Fitzgerald reiterated an "overweight" rating and set a $250.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Finally, Benchmark restated a "buy" rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $246.88.

Insiders Place Their Bets

In other Onto Innovation news, CEO Michael P. Plisinski sold 35,000 shares of the firm'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 sale, the chief executive officer now directly owns 150,492 shares in the company, valued at $32,986,341.48. This trade represents a 18.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the company's stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 15,223 shares in the company, valued at $3,120,715. The trade was a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 85,827 shares of company stock valued at $18,182,185 over the last ninety days. 0.72% of the stock is currently owned by company insiders.

Onto Innovation Stock Performance

Onto Innovation stock traded up $4.75 during midday trading on Wednesday, reaching $140.16. 1,076,956 shares of the company's stock were exchanged, compared to its average volume of 1,030,225. The stock's 50-day simple moving average is $183.52 and its 200 day simple moving average is $187.23. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 34.52, a P/E/G ratio of 0.89 and a beta of 1.31. Onto Innovation Inc. has a 52 week low of $129.53 and a 52 week high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its 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 14.24% and a net margin of 20.43%. Research analysts forecast that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

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.