Pacer Advisors Inc. Acquires 11,086 Shares of Onto Innovation Inc. (NYSE:ONTO)

Pacer Advisors Inc. lifted its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 104.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,672 shares of the semiconductor company's stock after buying an additional 11,086 shares during the quarter. Pacer Advisors Inc.'s holdings in Onto Innovation were worth $3,612,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of Montreal Can raised its stake in Onto Innovation by 10.4% during the 2nd quarter. Bank of Montreal Can now owns 6,823 shares of the semiconductor company's stock valued at $1,507,000 after purchasing an additional 640 shares during the last quarter. AQR Capital Management LLC raised its stake in Onto Innovation by 47.9% during the 2nd quarter. AQR Capital Management LLC now owns 15,285 shares of the semiconductor company's stock valued at $3,356,000 after purchasing an additional 4,947 shares during the last quarter. Mackenzie Financial Corp raised its stake in Onto Innovation by 21.4% during the 2nd quarter. Mackenzie Financial Corp now owns 3,092 shares of the semiconductor company's stock valued at $679,000 after purchasing an additional 544 shares during the last quarter. Algert Global LLC raised its stake in Onto Innovation by 193.0% during the 2nd quarter. Algert Global LLC now owns 5,978 shares of the semiconductor company's stock valued at $1,313,000 after purchasing an additional 3,938 shares during the last quarter. Finally, Creative Planning raised its stake in Onto Innovation by 32.4% during the 2nd quarter. Creative Planning now owns 27,726 shares of the semiconductor company's stock valued at $6,088,000 after purchasing an additional 6,779 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Onto Innovation

In other Onto Innovation 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 directly owns 15,223 shares in the company, valued at approximately $3,120,715. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 85,827 shares of company stock valued at $18,182,185. 0.72% of the stock is owned by insiders.

Onto Innovation Price Performance

Shares of ONTO traded down $5.37 during trading hours on Monday, hitting $199.40. The stock had a trading volume of 583,894 shares, compared to its average volume of 894,851. The company's fifty day moving average is $182.12 and its two-hundred day moving average is $190.10. Onto Innovation Inc. has a 52 week low of $145.15 and a 52 week high of $238.93. The stock has a market capitalization of $9.85 billion, a price-to-earnings ratio of 54.04, a P/E/G ratio of 1.06 and a beta of 1.31.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The business had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. During the same quarter in the prior year, the firm earned $0.96 EPS. The firm's quarterly revenue was up 21.7% compared to the same quarter last year. Equities analysts predict that Onto Innovation Inc. will post 5.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on ONTO. Jefferies Financial Group cut their target price 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. Needham & Company LLC cut their target price on shares of Onto Innovation from $245.00 to $230.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Oppenheimer reissued an "outperform" rating and issued a $275.00 price target on shares of Onto Innovation in a report on Tuesday, December 17th. Cantor Fitzgerald started coverage on shares of Onto Innovation in a report on Monday, January 13th. They issued an "overweight" rating and a $250.00 price target on the stock. Finally, Benchmark reissued a "buy" rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $253.75.

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.