KLP Kapitalforvaltning AS Invests $1.67 Million in Onto Innovation Inc. (NYSE:ONTO)

KLP Kapitalforvaltning AS bought a new position in Onto Innovation Inc. (NYSE:ONTO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 10,025 shares of the semiconductor company's stock, valued at approximately $1,671,000.

Several other hedge funds also recently bought and sold shares of ONTO. Hillsdale Investment Management Inc. bought a new position in Onto Innovation in the 4th quarter worth approximately $750,000. Sei Investments Co. boosted its position in shares of Onto Innovation by 4.1% during the fourth quarter. Sei Investments Co. now owns 204,179 shares of the semiconductor company's stock worth $34,031,000 after acquiring an additional 8,086 shares during the last quarter. Northwest & Ethical Investments L.P. boosted its position in shares of Onto Innovation by 9.5% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 1,150 shares of the semiconductor company's stock worth $191,000 after acquiring an additional 100 shares during the last quarter. Blueshift Asset Management LLC grew its stake in Onto Innovation by 28.6% during the fourth quarter. Blueshift Asset Management LLC now owns 3,252 shares of the semiconductor company's stock valued at $542,000 after acquiring an additional 724 shares in the last quarter. Finally, Magnetar Financial LLC increased its holdings in Onto Innovation by 288.3% in the 4th quarter. Magnetar Financial LLC now owns 18,997 shares of the semiconductor company's stock valued at $3,166,000 after acquiring an additional 14,105 shares during the last quarter. Institutional investors own 98.35% of the company's stock.

Onto Innovation Trading Up 2.1 %

NYSE:ONTO traded up $2.62 during midday trading on Wednesday, hitting $125.69. 553,871 shares of the company traded hands, compared to its average volume of 740,263. The firm has a market capitalization of $6.19 billion, a P/E ratio of 30.96, a P/E/G ratio of 0.89 and a beta of 1.29. The firm's fifty day moving average is $158.75 and its 200-day moving average is $177.30. Onto Innovation Inc. has a 12-month low of $116.16 and a 12-month high of $238.93.

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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, 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%. On average, research analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on ONTO. Stifel Nicolaus set a $200.00 price objective on shares of Onto Innovation and gave the company a "buy" rating in a report on Friday, March 28th. Needham & Company LLC reissued a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Benchmark reaffirmed a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $250.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Finally, StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $231.88.

Insiders Place Their Bets

In other Onto Innovation news, CEO Michael P. Plisinski sold 20,000 shares of the company's stock in a transaction 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 transaction, the chief executive officer now owns 215,492 shares of the company's stock, valued at $43,139,343.48. This represents a 8.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the sale, the senior vice president now owns 15,223 shares of the company's stock, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their ownership of the stock. 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 over the last 90 days. Insiders own 0.72% of the company's stock.

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.