Greenwood Capital Associates LLC Takes Position in Onto Innovation Inc. (NYSE:ONTO)

Greenwood Capital Associates LLC bought a new stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,593 shares of the semiconductor company's stock, valued at approximately $266,000.

A number of other institutional investors have also recently made changes to their positions in ONTO. Cerity Partners LLC raised its stake in Onto Innovation by 287.0% in the 3rd quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company's stock valued at $968,000 after purchasing an additional 3,458 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Onto Innovation by 1.6% in the third quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company's stock valued at $173,401,000 after buying an additional 13,405 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of 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 buying an additional 228,800 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Onto Innovation during the third quarter worth about $14,539,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Onto Innovation by 675.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company's stock worth $27,000 after acquiring an additional 108 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ONTO. Benchmark reissued a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday. Jefferies Financial Group reduced their price objective on Onto Innovation from $265.00 to $245.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. Needham & Company LLC restated a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday. Stifel Nicolaus reduced their price target on Onto Innovation from $270.00 to $250.00 and set a "buy" rating on the stock in a report on Friday. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $250.00 price objective on shares of Onto Innovation in a report on Friday. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $251.25.

Onto Innovation Trading Down 10.8 %

ONTO traded down $22.79 on Friday, hitting $187.81. The company had a trading volume of 2,199,640 shares, compared to its average volume of 884,934. The company's fifty day moving average price is $186.01 and its 200 day moving average price is $190.24. Onto Innovation Inc. has a 1 year low of $145.15 and a 1 year high of $238.93. The firm has a market cap of $9.28 billion, a P/E ratio of 46.26, a PEG ratio of 1.09 and a beta of 1.31.

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 14.41%. On average, analysts predict that Onto Innovation Inc. will post 6.46 earnings per share for the current year.

Insider Buying and Selling at Onto Innovation

In related news, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total value 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 approximately $32,986,341.48. The trade was a 18.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total transaction of $169,535.00. Following the sale, the senior vice president now directly 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. Insiders have sold a total of 85,827 shares of company stock valued at $18,182,185 over the last quarter. 0.72% of the stock is owned by company insiders.

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.