Invesco Ltd. Purchases 356,161 Shares of Onto Innovation Inc. (NYSE:ONTO)

Invesco Ltd. boosted its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 33.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,406,034 shares of the semiconductor company's stock after acquiring an additional 356,161 shares during the quarter. Invesco Ltd. owned about 2.85% of Onto Innovation worth $234,344,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in ONTO. Federated Hermes Inc. boosted its stake in shares of Onto Innovation by 20.5% during the fourth quarter. Federated Hermes Inc. now owns 8,566 shares of the semiconductor company's stock valued at $1,428,000 after acquiring an additional 1,455 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Onto Innovation during the fourth quarter worth approximately $47,000. Russell Investments Group Ltd. grew its stake in Onto Innovation by 13.7% in the 4th quarter. Russell Investments Group Ltd. now owns 13,622 shares of the semiconductor company's stock worth $2,270,000 after acquiring an additional 1,640 shares during the period. Katamaran Capital LLP purchased a new position in shares of Onto Innovation during the 4th quarter worth $2,407,000. Finally, Aviva PLC increased its stake in Onto Innovation by 10.5% in the fourth quarter. Aviva PLC now owns 3,637 shares of the semiconductor company's stock valued at $606,000 after purchasing an additional 346 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

Onto Innovation Trading Up 0.4 %

Onto Innovation stock traded up $0.50 during midday trading on Thursday, reaching $115.39. 148,271 shares of the stock traded hands, compared to its average volume of 789,175. The firm has a fifty day moving average price of $138.51 and a two-hundred day moving average price of $170.59. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 0.89 and a beta of 1.46. Onto Innovation Inc. has a fifty-two week low of $98.21 and a fifty-two week high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share 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%. Analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Insider Buying and Selling

In other Onto Innovation 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 transaction of $7,671,650.00. Following the transaction, the chief executive officer now directly owns 150,492 shares in the company, valued at approximately $32,986,341.48. The trade was a 18.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.72% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ONTO has been the topic of a number of research reports. Oppenheimer cut their price objective on Onto Innovation from $240.00 to $150.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Jefferies Financial Group decreased their price target on shares of Onto Innovation from $245.00 to $175.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Benchmark reissued a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Needham & Company LLC reissued a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $250.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $218.13.

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.