Allspring Global Investments Holdings LLC Raises Stake in Onto Innovation Inc. (NYSE:ONTO)

Allspring Global Investments Holdings LLC raised its stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 9.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 403,971 shares of the semiconductor company's stock after acquiring an additional 36,213 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.82% of Onto Innovation worth $69,119,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mather Group LLC. lifted 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 valued at $27,000 after buying an additional 111 shares in the last quarter. Versant Capital Management Inc lifted its stake 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 valued at $39,000 after buying an additional 197 shares in the last quarter. Berbice Capital Management LLC purchased a new stake in shares of Onto Innovation during the 4th quarter valued at approximately $50,000. Eastern Bank purchased a new stake in shares of Onto Innovation during the 3rd quarter valued at approximately $65,000. Finally, UMB Bank n.a. lifted its stake in shares of Onto Innovation by 22.8% during 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 in the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the firm's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction of $169,535.00. Following the completion of the sale, the senior vice president now directly owns 15,223 shares in the company, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation 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 completion of the sale, the chief executive officer now owns 150,492 shares of the company's stock, valued at $32,986,341.48. This represents a 18.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,827 shares of company stock valued at $18,182,185. Company insiders own 0.72% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on ONTO shares. StockNews.com cut shares of Onto Innovation from a "hold" rating to a "sell" rating in a research note on Tuesday, February 11th. Benchmark reissued a "buy" rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $250.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Jefferies Financial Group cut their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Finally, Stifel Nicolaus cut their price objective on shares of Onto Innovation from $270.00 to $250.00 and set a "buy" rating for the company in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Onto Innovation currently has a consensus rating of "Moderate Buy" and an average price target of $251.25.

Onto Innovation Price Performance

ONTO traded up $2.83 during trading on Friday, hitting $176.68. 1,079,850 shares of the stock traded hands, compared to its average volume of 884,934. The firm has a market capitalization of $8.73 billion, a P/E ratio of 43.52, a price-to-earnings-growth ratio of 1.09 and a beta of 1.31. The firm has a 50-day moving average of $186.64 and a 200 day moving average of $189.63. Onto Innovation Inc. has a 12-month low of $145.15 and a 12-month 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 EPS 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 14.41%. As a group, equities analysts predict that Onto Innovation Inc. will post 6.46 EPS for the current fiscal year.

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.