JPMorgan Chase & Co. Raises Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

JPMorgan Chase & Co. raised its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 9.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,192,238 shares of the semiconductor company's stock after purchasing an additional 183,839 shares during the period. JPMorgan Chase & Co. owned 4.44% of Onto Innovation worth $365,380,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Artisan Partners Limited Partnership lifted its stake in shares of Onto Innovation by 41.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company's stock worth $252,530,000 after purchasing an additional 444,860 shares during the last quarter. Raymond James Financial Inc. bought a new position in Onto Innovation in the fourth quarter worth about $43,893,000. Proficio Capital Partners LLC purchased a new stake in shares of Onto Innovation during the fourth quarter valued at about $41,946,000. Barclays PLC boosted its holdings in shares of Onto Innovation by 1,296.7% in the 3rd quarter. Barclays PLC now owns 217,190 shares of the semiconductor company's stock valued at $45,079,000 after buying an additional 201,640 shares in the last quarter. Finally, FMR LLC grew its position in shares of Onto Innovation by 20.5% in the 3rd quarter. FMR LLC now owns 825,682 shares of the semiconductor company's stock worth $171,379,000 after buying an additional 140,659 shares during the last quarter. Institutional investors own 98.35% of the company's stock.

Insider Activity

In other Onto Innovation news, CEO Michael P. Plisinski sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total value of $4,003,800.00. Following the completion of the transaction, the chief executive officer now directly owns 215,492 shares of the company's stock, valued at approximately $43,139,343.48. The trade was a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Srinivas Vedula sold 827 shares of the firm'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 $3,120,715. The trade was a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 85,827 shares of company stock valued at $18,182,185 in the last quarter. 0.72% of the stock is currently owned by company insiders.

Remove Ads

Onto Innovation Price Performance

ONTO traded up $2.62 during trading on Wednesday, reaching $125.69. 553,871 shares of the company's stock were exchanged, compared to its average volume of 739,076. The company's fifty day simple moving average is $160.73 and its 200-day simple moving average is $177.66. The stock has a market capitalization of $6.19 billion, a P/E ratio of 30.96, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a 1 year low of $116.07 and a 1 year high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) 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 14.24%. Equities analysts forecast that Onto Innovation Inc. will post 6.26 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Needham & Company LLC restated a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Cantor Fitzgerald restated an "overweight" rating and set a $250.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Stifel Nicolaus set a $200.00 target price on Onto Innovation and gave the company a "buy" rating in a research report on Friday, March 28th. StockNews.com raised Onto Innovation from a "sell" rating to a "hold" rating in a report on Thursday, February 27th. Finally, Oppenheimer cut their price objective on shares of Onto Innovation from $275.00 to $240.00 and set an "outperform" rating on the stock in a report on Thursday, February 20th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $231.88.

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.