Onto Innovation Inc. (NYSE:ONTO) Shares Acquired by Geneva Capital Management LLC

Geneva Capital Management LLC increased its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 7.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,010,691 shares of the semiconductor company's stock after purchasing an additional 71,050 shares during the quarter. Onto Innovation accounts for approximately 2.9% of Geneva Capital Management LLC's holdings, making the stock its 6th biggest position. Geneva Capital Management LLC owned approximately 2.05% of Onto Innovation worth $168,452,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Citigroup Inc. increased its position in Onto Innovation by 811.7% during the 3rd quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company's stock worth $66,236,000 after purchasing an additional 284,115 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Onto Innovation in the fourth quarter valued at approximately $43,893,000. Proficio Capital Partners LLC acquired a new position in Onto Innovation during the fourth quarter worth $41,946,000. JPMorgan Chase & Co. raised its position in Onto Innovation by 12.9% in the third 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. Finally, Barclays PLC lifted its holdings in Onto Innovation by 1,296.7% in the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company's stock valued at $45,079,000 after acquiring an additional 201,640 shares during the period. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

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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 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 owns 15,223 shares of the company's stock, valued at approximately $3,120,715. This represents a 5.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael P. Plisinski sold 35,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the completion of the transaction, the chief executive officer now owns 150,492 shares in the company, valued at $32,986,341.48. The trade was a 18.87 % 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 valued at $18,182,185. Insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of Onto Innovation from a "sell" rating to a "hold" rating in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Oppenheimer decreased their target price on Onto Innovation from $275.00 to $240.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. Cantor Fitzgerald reissued an "overweight" rating and issued a $250.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Finally, Stifel Nicolaus cut their price target 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. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $246.88.

Onto Innovation Stock Down 7.0 %

Shares of ONTO traded down $9.33 during trading hours on Monday, reaching $123.49. 1,573,404 shares of the company traded hands, compared to its average volume of 1,053,126. The stock has a market capitalization of $6.08 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. The stock has a fifty day simple moving average of $181.34 and a 200 day simple moving average of $185.59. Onto Innovation Inc. has a fifty-two week low of $122.48 and a fifty-two week high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping 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%. Research analysts predict 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.