Fort Washington Investment Advisors Inc. OH Increases Holdings in Onto Innovation Inc. (NYSE:ONTO)

Fort Washington Investment Advisors Inc. OH increased its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 40.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 140,455 shares of the semiconductor company's stock after buying an additional 40,290 shares during the period. Fort Washington Investment Advisors Inc. OH owned about 0.28% of Onto Innovation worth $23,410,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Onto Innovation by 12.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company's stock worth $416,863,000 after acquiring an additional 228,800 shares in the last quarter. State Street Corp raised its stake in shares of Onto Innovation by 2.8% during the 3rd quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company's stock worth $305,107,000 after acquiring an additional 39,367 shares in the last quarter. Franklin Resources Inc. grew its holdings in Onto Innovation by 4.5% in the third quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company's stock worth $288,320,000 after purchasing an additional 54,868 shares during the last quarter. Congress Asset Management Co. lifted its holdings in shares of Onto Innovation by 38.1% during the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company's stock valued at $222,670,000 after purchasing an additional 295,869 shares during the last quarter. Finally, Geneva Capital Management LLC grew its stake in shares of Onto Innovation by 2.6% during the third quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company's stock worth $195,032,000 after acquiring an additional 23,628 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Michael P. Plisinski sold 20,000 shares of the company'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 sale, the chief executive officer now directly owns 215,492 shares of the company's stock, valued at $43,139,343.48. This represents a 8.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the stock in a transaction 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 completion of the sale, the senior vice president now owns 15,223 shares in the company, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. 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. 0.72% of the stock is currently owned by company insiders.

Onto Innovation Price Performance

NYSE ONTO traded down $8.03 during trading hours on Thursday, hitting $216.47. 473,956 shares of the company's stock traded hands, compared to its average volume of 777,762. The company has a market capitalization of $10.69 billion, a PE ratio of 58.66, a PEG ratio of 1.13 and a beta of 1.29. Onto Innovation Inc. has a 52-week low of $145.15 and a 52-week high of $238.93. The firm's 50-day moving average is $176.99 and its 200-day moving average is $191.81.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.31 by $0.03. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The firm had revenue of $252.20 million during the quarter, compared to analysts' expectations of $250.85 million. The business's revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.96 earnings per share. Equities research analysts predict that Onto Innovation Inc. will post 5.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ONTO shares. Cantor Fitzgerald assumed coverage on Onto Innovation in a research report on Monday, January 13th. They issued an "overweight" rating and a $250.00 target price on the stock. Needham & Company LLC reduced their price target on shares of Onto Innovation from $245.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, November 1st. Jefferies Financial Group dropped their target price on Onto Innovation from $265.00 to $245.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Oppenheimer reissued an "outperform" rating and issued a $275.00 price target on shares of Onto Innovation in a report on Tuesday, December 17th. Finally, Benchmark reaffirmed a "buy" rating and set a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $253.75.

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.