Capital Fund Management S.A. Increases Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Capital Fund Management S.A. lifted its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 69.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,885 shares of the semiconductor company's stock after buying an additional 27,517 shares during the period. Capital Fund Management S.A. owned about 0.14% of Onto Innovation worth $11,148,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. F M Investments LLC bought a new stake in shares of Onto Innovation in the 4th quarter worth approximately $284,000. CenterBook Partners LP lifted its stake in Onto Innovation by 80.8% in the fourth quarter. CenterBook Partners LP now owns 3,824 shares of the semiconductor company's stock worth $637,000 after purchasing an additional 1,709 shares during the last quarter. Bessemer Group Inc. boosted its position in Onto Innovation by 3.5% during the fourth quarter. Bessemer Group Inc. now owns 128,746 shares of the semiconductor company's stock valued at $21,458,000 after buying an additional 4,362 shares during the period. Raymond James Financial Inc. bought a new position in shares of Onto Innovation during the fourth quarter valued at about $43,893,000. Finally, Bank of Nova Scotia increased its holdings in shares of Onto Innovation by 27.9% in the fourth quarter. Bank of Nova Scotia now owns 26,869 shares of the semiconductor company's stock worth $4,478,000 after buying an additional 5,869 shares during the period. Institutional investors own 98.35% of the company's stock.

Wall Street Analysts Forecast Growth

ONTO has been the topic of several recent research reports. Needham & Company LLC restated a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Benchmark reaffirmed a "buy" rating and issued a $230.00 target price 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 report on Thursday, February 27th. Oppenheimer cut their price target on shares of Onto Innovation from $240.00 to $150.00 and set an "outperform" rating on the stock in a report on Friday. Finally, Jefferies Financial Group lowered their price objective on shares of Onto Innovation from $245.00 to $175.00 and set a "buy" rating for the company in a research note on Friday, March 28th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Onto Innovation presently has an average rating of "Moderate Buy" and a consensus target price of $218.13.

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Onto Innovation Trading Down 0.4 %

Shares of ONTO stock traded down $0.45 during midday trading on Tuesday, reaching $120.32. 567,307 shares of the stock were exchanged, compared to its average volume of 787,338. Onto Innovation Inc. has a 1 year low of $98.21 and a 1 year high of $238.93. The firm has a market cap of $5.93 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46. The company's 50 day moving average is $141.78 and its two-hundred day moving average is $171.33.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share 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%. As a group, equities analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Michael P. Plisinski sold 35,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total value of $7,671,650.00. Following the sale, the chief executive officer now directly owns 150,492 shares of the company's stock, valued at approximately $32,986,341.48. This represents a 18.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Srinivas Vedula sold 827 shares of Onto Innovation 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 completion of the transaction, the senior vice president now directly owns 15,223 shares of the company's stock, valued at approximately $3,120,715. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,827 shares of company stock worth $14,178,385 in the last three months. 0.72% of the stock is owned by corporate insiders.

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.