22,543 Shares in Onto Innovation Inc. (NYSE:ONTO) Purchased by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP purchased a new position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 22,543 shares of the semiconductor company's stock, valued at approximately $3,757,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ONTO. Vanguard Group Inc. grew its holdings in shares of Onto Innovation by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company's stock worth $861,040,000 after buying an additional 76,233 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Onto Innovation by 9.2% in the 4th quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company's stock valued at $365,380,000 after purchasing an additional 183,839 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Onto Innovation by 21.2% in the fourth quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company's stock valued at $258,883,000 after purchasing an additional 271,470 shares during the period. Artisan Partners Limited Partnership increased its holdings in shares of Onto Innovation by 41.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company's stock valued at $252,530,000 after purchasing an additional 444,860 shares during the period. Finally, State Street Corp raised its stake in shares of Onto Innovation by 2.8% during the third quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company's stock worth $305,107,000 after purchasing an additional 39,367 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

Onto Innovation Stock Up 2.0 %

Shares of ONTO traded up $2.37 on Friday, reaching $120.40. The stock had a trading volume of 917,314 shares, compared to its average volume of 784,793. The firm has a 50-day moving average of $143.57 and a 200 day moving average of $172.35. The firm has a market capitalization of $5.93 billion, a PE ratio of 29.65, a PEG ratio of 0.89 and a beta of 1.46. Onto Innovation Inc. has a twelve month low of $98.21 and a twelve month high of $238.93.

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%. On average, sell-side analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ONTO. Stifel Nicolaus set a $200.00 price objective on shares of Onto Innovation and gave the company a "buy" rating in a research report on Friday, March 28th. Oppenheimer lowered their target price on shares of Onto Innovation from $240.00 to $150.00 and set an "outperform" rating on the stock in a report on Friday. Cantor Fitzgerald reissued an "overweight" rating and set a $250.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Needham & Company LLC reaffirmed a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Finally, Jefferies Financial Group dropped their target price on Onto Innovation from $245.00 to $175.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $220.63.

Insiders Place Their Bets

In other news, 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 transaction of $169,535.00. Following the completion of the sale, the senior vice president now directly owns 15,223 shares in the company, valued at $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. 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 the business's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 215,492 shares of the company's stock, valued at approximately $43,139,343.48. This represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 85,827 shares of company stock worth $18,182,185. Insiders own 0.72% of the company's stock.

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.