1,394 Shares in Onto Innovation Inc. (NYSE:ONTO) Purchased by Perpetual Ltd

Perpetual Ltd purchased a new stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,394 shares of the semiconductor company's stock, valued at approximately $232,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP boosted its stake in shares of Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 79 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 108 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Onto Innovation by 532.4% in the 4th 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. Eastern Bank bought a new stake in shares of Onto Innovation in the 3rd quarter valued at $65,000. Finally, UMB Bank n.a. boosted its stake in shares of Onto Innovation by 22.8% in the 4th quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company's stock valued at $66,000 after purchasing an additional 74 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ONTO has been the topic of a number of analyst reports. Cantor Fitzgerald initiated coverage on shares of Onto Innovation in a research note on Monday, January 13th. They issued an "overweight" rating and a $250.00 price objective on the stock. Jefferies Financial Group reduced their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Oppenheimer reissued an "outperform" rating and set a $275.00 target price on shares of Onto Innovation in a research note on Tuesday, December 17th. Benchmark reissued a "buy" rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, November 1st. Finally, Needham & Company LLC cut their target price on shares of Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $253.75.

Onto Innovation Stock Performance

Shares of Onto Innovation stock traded down $3.78 during trading hours on Friday, reaching $213.26. The company's stock had a trading volume of 811,981 shares, compared to its average volume of 803,325. Onto Innovation Inc. has a one year low of $145.15 and a one year high of $238.93. The company has a market capitalization of $10.53 billion, a P/E ratio of 57.79, a P/E/G ratio of 1.16 and a beta of 1.29. The stock's fifty day simple moving average is $178.03 and its two-hundred day simple moving average is $191.98.

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

Insider Buying and Selling at Onto Innovation

In other 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 value of $7,671,650.00. Following the completion of the sale, the chief executive officer now owns 150,492 shares in the company, valued at $32,986,341.48. This represents a 18.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $169,535.00. Following the completion of the sale, the senior vice president now owns 15,223 shares of the company's stock, valued at approximately $3,120,715. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,827 shares of company stock valued at $18,182,185. Corporate insiders own 0.72% of the company's stock.

Onto Innovation 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.