Onto Innovation Inc. (NYSE:ONTO) Stake Lifted by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. boosted its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 99.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,970 shares of the semiconductor company's stock after purchasing an additional 9,448 shares during the period. EFG Asset Management North America Corp.'s holdings in Onto Innovation were worth $3,160,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Kestra Investment Management LLC acquired a new stake in Onto Innovation during the 4th quarter worth approximately $26,000. Mather Group LLC. increased its position in shares of Onto Innovation by 209.4% in the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company's stock worth $27,000 after acquiring an additional 111 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Onto Innovation by 532.4% in the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company's stock valued at $39,000 after acquiring an additional 197 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Onto Innovation in the 4th quarter valued at $43,000. Finally, Berbice Capital Management LLC acquired a new position in shares of Onto Innovation during the 4th quarter valued at $50,000. Institutional investors and hedge funds own 98.35% of the company's stock.

Insider Buying and Selling

In related news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction that occurred on 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 $3,120,715. This represents a 5.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $4,003,800.00. Following the sale, the chief executive officer now directly owns 215,492 shares in the company, valued at $43,139,343.48. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,827 shares of company stock valued at $18,182,185. Insiders own 0.72% of the company's stock.

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Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ONTO. Jefferies Financial Group lowered their price target on Onto Innovation from $245.00 to $175.00 and set a "buy" rating for the company in a report on Friday. StockNews.com upgraded Onto Innovation from a "sell" rating to a "hold" rating in a report on Thursday, February 27th. Cantor Fitzgerald reissued an "overweight" rating and set a $250.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Finally, Oppenheimer lowered their target price on Onto Innovation from $275.00 to $240.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $231.88.

Onto Innovation Stock Performance

Shares of Onto Innovation stock traded down $6.43 during trading on Friday, reaching $121.99. The company had a trading volume of 979,804 shares, compared to its average volume of 737,240. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 30.05, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. The firm's fifty day moving average is $164.57 and its 200-day moving average is $178.80. Onto Innovation Inc. has a fifty-two week low of $120.68 and a fifty-two week high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. On average, research analysts anticipate 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.