Mirae Asset Global Investments Co. Ltd. Has $11.08 Million Stake in Onto Innovation Inc. (NYSE:ONTO)

Mirae Asset Global Investments Co. Ltd. lessened its stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 64,922 shares of the semiconductor company's stock after selling 2,586 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.13% of Onto Innovation worth $11,080,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ONTO. Greenwood Capital Associates LLC acquired a new position in shares of Onto Innovation during the 4th quarter worth $266,000. Mather Group LLC. increased its stake in shares of Onto Innovation by 209.4% during the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 111 shares during the last quarter. abrdn plc increased its stake in shares of Onto Innovation by 3.5% during the 4th quarter. abrdn plc now owns 4,953 shares of the semiconductor company's stock worth $831,000 after purchasing an additional 169 shares during the last quarter. Trust Point Inc. increased its stake in shares of Onto Innovation by 34.6% during the 4th quarter. Trust Point Inc. now owns 5,114 shares of the semiconductor company's stock worth $852,000 after purchasing an additional 1,316 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Onto Innovation by 32.3% during the 4th quarter. Jennison Associates LLC now owns 3,052 shares of the semiconductor company's stock worth $509,000 after purchasing an additional 745 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

Onto Innovation Stock Down 2.6 %

Onto Innovation stock traded down $4.90 during mid-day trading on Monday, reaching $182.07. The company had a trading volume of 631,601 shares, compared to its average volume of 940,354. The company has a 50 day moving average of $186.01 and a 200-day moving average of $190.03. The firm has a market cap of $8.99 billion, a price-to-earnings ratio of 44.88, a PEG ratio of 1.09 and a beta of 1.31. Onto Innovation Inc. has a 52 week low of $145.15 and a 52 week high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings data 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 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 fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ONTO shares. Oppenheimer restated an "outperform" rating and set a $275.00 price target on shares of Onto Innovation in a research note on Tuesday, December 17th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $250.00 target price on shares of Onto Innovation in a research note on Friday. Needham & Company LLC reiterated a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday. Benchmark reiterated a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday. Finally, Jefferies Financial Group reduced their price target on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $251.25.

Insider Transactions at Onto Innovation

In related news, CEO Michael P. Plisinski sold 35,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 150,492 shares in the company, valued at $32,986,341.48. This trade represents a 18.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Srinivas Vedula sold 827 shares of the stock in a transaction dated 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 owns 15,223 shares of the company's stock, valued at $3,120,715. This trade represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 85,827 shares of company stock valued at $18,182,185. Company insiders own 0.72% of the company's stock.

Onto Innovation 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.