Charles Schwab Investment Management Inc. Grows Holdings in Onto Innovation Inc. (NYSE:ONTO)

Charles Schwab Investment Management Inc. grew its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 341,386 shares of the semiconductor company's stock after buying an additional 4,164 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.69% of Onto Innovation worth $56,899,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ONTO. Citigroup Inc. lifted its holdings in Onto Innovation by 811.7% in the third quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company's stock worth $66,236,000 after buying an additional 284,115 shares during the period. Proficio Capital Partners LLC purchased a new stake in Onto Innovation in the fourth quarter worth about $41,946,000. JPMorgan Chase & Co. lifted its holdings in Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company's stock worth $416,863,000 after buying an additional 228,800 shares during the period. Barclays PLC lifted its holdings in Onto Innovation by 1,296.7% in the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company's stock worth $45,079,000 after buying an additional 201,640 shares during the period. Finally, FMR LLC lifted its holdings in Onto Innovation by 20.5% in the third quarter. FMR LLC now owns 825,682 shares of the semiconductor company's stock worth $171,379,000 after buying an additional 140,659 shares during the period. 98.35% of the stock is owned by institutional investors.

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Onto Innovation Stock Up 3.0 %

NYSE:ONTO traded up $4.05 during mid-day trading on Friday, hitting $138.72. 1,052,543 shares of the stock traded hands, compared to its average volume of 1,061,062. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of 34.17, 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. The firm's 50 day moving average is $177.40 and its two-hundred day moving average is $183.00.

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 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%. As a group, research analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current year.

Insider Transactions at Onto Innovation

In other news, CEO Michael P. Plisinski sold 20,000 shares of Onto Innovation stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the completion of the sale, the chief executive officer now directly owns 215,492 shares in the company, valued at approximately $43,139,343.48. The trade was a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Srinivas Vedula sold 827 shares of the firm's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total transaction of $169,535.00. Following the transaction, the senior vice president now directly owns 15,223 shares of the company's stock, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,827 shares of company stock valued at $18,182,185. Company insiders own 0.72% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ONTO. Oppenheimer lowered their target price on shares of Onto Innovation from $275.00 to $240.00 and set an "outperform" rating for the company in a report on Thursday, February 20th. Stifel Nicolaus cut their target price on shares of Onto Innovation from $270.00 to $250.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Needham & Company LLC reiterated a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Cantor Fitzgerald reiterated an "overweight" rating and set a $250.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Finally, Benchmark restated a "buy" rating and set a $230.00 target price 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 assigned a buy rating to the stock. According to data from MarketBeat, Onto Innovation has a consensus rating of "Moderate Buy" and an average price target of $246.88.

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.