Empower Advisory Group LLC Makes New $907,000 Investment in Onto Innovation Inc. (NYSE:ONTO)

Empower Advisory Group LLC bought a new stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,439 shares of the semiconductor company's stock, valued at approximately $907,000.

Several other institutional investors have also recently made changes to their positions in ONTO. Mather Group LLC. increased its holdings in Onto Innovation by 209.4% in the 4th 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 boosted its position in shares of Onto Innovation by 532.4% during 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 last quarter. Berbice Capital Management LLC acquired a new position in Onto Innovation in the fourth quarter valued at about $50,000. Eastern Bank acquired a new position in Onto Innovation in the third quarter valued at about $65,000. Finally, UMB Bank n.a. increased its position in shares of Onto Innovation by 22.8% during the fourth quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company's stock worth $66,000 after acquiring an additional 74 shares during the period. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Trading Down 4.7 %

Shares of Onto Innovation stock traded down $7.92 on Friday, hitting $159.23. The stock had a trading volume of 1,021,139 shares, compared to its average volume of 981,367. Onto Innovation Inc. has a 52-week low of $145.15 and a 52-week high of $238.93. The stock has a market cap of $7.86 billion, a price-to-earnings ratio of 39.22, a P/E/G ratio of 0.90 and a beta of 1.31. The company's 50 day moving average price is $187.06 and its 200 day moving average price is $189.46.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, beating 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%. Analysts predict that Onto Innovation Inc. will post 6.32 EPS for the current fiscal year.

Analysts Set New Price Targets

ONTO has been the subject of several analyst reports. Stifel Nicolaus lowered their target price on Onto Innovation from $270.00 to $250.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Cantor Fitzgerald reissued an "overweight" rating and set a $250.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Benchmark reaffirmed a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. StockNews.com downgraded Onto Innovation from a "hold" rating to a "sell" rating in a report on Tuesday, February 11th. Finally, 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. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $246.88.

Insider Activity

In other Onto Innovation news, CEO Michael P. Plisinski sold 35,000 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The stock was 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 of the company's stock, valued at $32,986,341.48. This represents a 18.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 85,827 shares of company stock valued at $18,182,185. Insiders own 0.72% of the company's stock.

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.