Onto Innovation Inc. (NYSE:ONTO) Shares Purchased by Zions Bancorporation N.A.

Zions Bancorporation N.A. increased its stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 35.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,760 shares of the semiconductor company's stock after purchasing an additional 5,430 shares during the quarter. Zions Bancorporation N.A.'s holdings in Onto Innovation were worth $3,460,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ONTO. UMB Bank n.a. increased its holdings in Onto Innovation by 22.8% in the fourth 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. Northwest & Ethical Investments L.P. increased its stake in Onto Innovation by 7.8% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 1,050 shares of the semiconductor company's stock valued at $218,000 after purchasing an additional 76 shares in the last quarter. Bridge City Capital LLC raised its holdings in Onto Innovation by 1.0% during the fourth quarter. Bridge City Capital LLC now owns 8,165 shares of the semiconductor company's stock worth $1,361,000 after purchasing an additional 78 shares during the last quarter. CIBC Asset Management Inc boosted its position in Onto Innovation by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company's stock worth $256,000 after purchasing an additional 81 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC boosted its position in Onto Innovation by 3.9% during the fourth quarter. Hunter Perkins Capital Management LLC now owns 2,415 shares of the semiconductor company's stock worth $403,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ONTO. Needham & Company LLC reaffirmed a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Stifel Nicolaus set a $200.00 price target on shares of Onto Innovation and gave the company a "buy" rating in a research report on Friday. StockNews.com upgraded Onto Innovation from a "sell" rating to a "hold" rating in a report on Thursday, February 27th. Benchmark reissued a "buy" rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Finally, Oppenheimer reduced their price objective on Onto Innovation from $275.00 to $240.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $231.88.

Onto Innovation Stock Down 5.0 %

Shares of NYSE:ONTO traded down $6.43 during midday trading on Friday, reaching $121.99. The company's stock had a trading volume of 979,804 shares, compared to its average volume of 737,240. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 30.05, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. The business has a 50 day moving average price of $164.57 and a 200 day moving average price of $178.80. Onto Innovation Inc. has a 1 year low of $120.68 and a 1 year high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last released 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%. Sell-side analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Srinivas Vedula sold 827 shares of the 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 approximately $3,120,715. This represents a 5.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael P. Plisinski sold 35,000 shares of the company's stock in a transaction dated 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 transaction, 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 85,827 shares of company stock worth $18,182,185. 0.72% of the stock is currently owned by insiders.

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.