Onto Innovation Inc. (NYSE:ONTO) Shares Acquired by Picton Mahoney Asset Management

Picton Mahoney Asset Management raised its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 10.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 50,055 shares of the semiconductor company's stock after purchasing an additional 4,639 shares during the quarter. Picton Mahoney Asset Management owned 0.10% of Onto Innovation worth $8,344,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ONTO. Kestra Investment Management LLC purchased a new stake in Onto Innovation in the fourth quarter valued at $26,000. Mather Group LLC. boosted its holdings in Onto Innovation by 209.4% in the fourth 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 last quarter. Versant Capital Management Inc boosted its holdings in 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 purchasing an additional 197 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Onto Innovation in the fourth quarter valued at $43,000. Finally, Berbice Capital Management LLC purchased a new stake in Onto Innovation in the fourth quarter valued at $50,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Benchmark reaffirmed a "buy" rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Needham & Company LLC reissued a "buy" rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Oppenheimer lowered their target price on shares of Onto Innovation from $275.00 to $240.00 and set an "outperform" rating on the stock in a research note on Thursday, February 20th. Cantor Fitzgerald reissued an "overweight" rating and set a $250.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Finally, Stifel Nicolaus lowered their target price on shares of Onto Innovation from $270.00 to $250.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $246.88.

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Onto Innovation Price Performance

Onto Innovation stock traded up $2.45 during midday trading on Wednesday, reaching $137.45. The company had a trading volume of 556,282 shares, compared to its average volume of 690,009. The company has a market capitalization of $6.77 billion, a P/E ratio of 33.85, a P/E/G ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a 12-month low of $121.47 and a 12-month high of $238.93. The firm's fifty day simple moving average is $175.14 and its 200-day simple moving average is $181.77.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings results 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, analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the sale, the senior vice president now owns 15,223 shares in the company, valued at approximately $3,120,715. This represents a 5.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 of the company's stock, valued at approximately $32,986,341.48. The trade was a 18.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,827 shares of company stock worth $18,182,185. 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.