Empowered Funds LLC Invests $355,000 in Onto Innovation Inc. (NYSE:ONTO)

Empowered Funds LLC bought a new stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,129 shares of the semiconductor company's stock, valued at approximately $355,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Mather Group LLC. increased its holdings in Onto Innovation by 209.4% during the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 111 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Onto Innovation by 532.4% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company's stock valued at $39,000 after buying an additional 197 shares in the last quarter. Berbice Capital Management LLC acquired a new stake in shares of Onto Innovation in the fourth quarter valued at $50,000. Eastern Bank bought a new position in shares of Onto Innovation in the third quarter valued at about $65,000. Finally, UMB Bank n.a. lifted its position in Onto Innovation by 22.8% during the 4th quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company's stock worth $66,000 after buying an additional 74 shares in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Stock Down 4.7 %

NYSE ONTO traded down $7.92 on Friday, reaching $159.23. The company 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 PEG ratio of 0.90 and a beta of 1.31. The stock's 50 day moving average is $187.06 and its 200-day moving average is $189.46.

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

Insiders Place Their Bets

In other news, CEO Michael P. Plisinski sold 35,000 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now owns 150,492 shares of the company's stock, valued at $32,986,341.48. This trade represents a 18.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the transaction, the senior vice president now owns 15,223 shares in the company, valued at $3,120,715. This trade represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,827 shares of company stock worth $18,182,185. Company insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ONTO shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Stifel Nicolaus reduced their price objective on Onto Innovation from $270.00 to $250.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $250.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. StockNews.com downgraded Onto Innovation from a "hold" rating to a "sell" rating in a research report on Tuesday, February 11th. Finally, Oppenheimer decreased their price target on Onto Innovation from $275.00 to $240.00 and set an "outperform" rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $246.88.

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.