Janney Montgomery Scott LLC Acquires New Holdings in Onto Innovation Inc. (NYSE:ONTO)

Janney Montgomery Scott LLC purchased a new stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,612 shares of the semiconductor company's stock, valued at approximately $935,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its position in shares of Onto Innovation by 675.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company's stock valued at $27,000 after acquiring an additional 108 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Onto Innovation by 532.4% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company's stock worth $39,000 after purchasing an additional 197 shares during the last quarter. Eastern Bank bought a new stake in shares of Onto Innovation during the 3rd quarter worth approximately $65,000. UMB Bank n.a. boosted its holdings in shares of Onto Innovation by 22.8% in the 4th quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company's stock valued at $66,000 after buying an additional 74 shares during the last quarter. Finally, Park Place Capital Corp bought a new position in shares of Onto Innovation in the third quarter valued at $68,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Trading Up 0.6 %

ONTO stock traded up $1.16 during trading hours on Thursday, hitting $210.86. 1,404,218 shares of the stock were exchanged, compared to its average volume of 901,293. Onto Innovation Inc. has a 12 month low of $145.15 and a 12 month high of $238.93. The firm has a market capitalization of $10.41 billion, a P/E ratio of 57.14, a P/E/G ratio of 1.06 and a beta of 1.31. The company has a 50-day simple moving average of $184.54 and a two-hundred day simple moving average of $190.24.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.10. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. On average, equities research analysts predict that Onto Innovation Inc. will post 5.22 earnings per share for the current year.

Insider Activity

In other news, SVP Srinivas Vedula sold 827 shares of the business's stock in a transaction that occurred 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael P. Plisinski sold 35,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the sale, the chief executive officer now owns 150,492 shares in the company, valued at $32,986,341.48. This represents a 18.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,827 shares of company stock worth $18,182,185. Corporate insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ONTO shares. Oppenheimer reaffirmed an "outperform" rating and set a $275.00 price target on shares of Onto Innovation in a research report on Tuesday, December 17th. Jefferies Financial Group dropped their target price on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Needham & Company LLC reduced their price target on Onto Innovation from $245.00 to $230.00 and set a "buy" rating for the company in a report on Friday, November 1st. Cantor Fitzgerald began coverage on Onto Innovation in a research note on Monday, January 13th. They issued an "overweight" rating and a $250.00 price objective on the stock. Finally, Benchmark reiterated a "buy" rating and set a $230.00 target price on shares of Onto Innovation in a research note 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $253.75.

About Onto Innovation

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.