Zurcher Kantonalbank Zurich Cantonalbank Purchases 2,466 Shares of Onto Innovation Inc. (NYSE:ONTO)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 18.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 15,782 shares of the semiconductor company's stock after acquiring an additional 2,466 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Onto Innovation were worth $2,630,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ONTO. Kestra Investment Management LLC purchased a new position in Onto Innovation in the fourth quarter worth about $26,000. Mather Group LLC. raised its position 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 purchasing an additional 111 shares during the period. Versant Capital Management Inc lifted its position in shares of Onto Innovation by 532.4% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company's stock valued at $39,000 after acquiring an additional 197 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Onto Innovation during the fourth quarter valued at $43,000. Finally, Berbice Capital Management LLC bought a new position in shares of Onto Innovation during the 4th quarter valued at approximately $50,000. Institutional investors own 98.35% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ONTO. Cantor Fitzgerald reissued an "overweight" rating and set a $250.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Stifel Nicolaus dropped their price target on Onto Innovation from $270.00 to $250.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Benchmark restated a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $246.88.

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Insider Activity

In related news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value 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. This trade represents a 5.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael P. Plisinski sold 35,000 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total value of $7,671,650.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,827 shares of company stock worth $18,182,185. 0.72% of the stock is owned by corporate insiders.

Onto Innovation Stock Up 1.8 %

Shares of Onto Innovation stock traded up $2.45 during midday trading on Wednesday, hitting $137.45. The company's stock had a trading volume of 370,087 shares, compared to its average volume of 1,026,205. The firm has a market capitalization of $6.77 billion, a P/E ratio of 33.85, a PEG ratio of 0.89 and a beta of 1.29. The stock has a 50-day simple moving average of $175.14 and a 200-day simple moving average of $181.77. Onto Innovation Inc. has a 1-year low of $121.47 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 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. As a group, sell-side analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current 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.