Pier Capital LLC Invests $8.60 Million in Onto Innovation Inc. (NYSE:ONTO)

Pier Capital LLC bought a new position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 51,599 shares of the semiconductor company's stock, valued at approximately $8,600,000. Pier Capital LLC owned about 0.10% of Onto Innovation as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kestra Investment Management LLC acquired a new stake in shares of Onto Innovation during the 4th quarter worth approximately $26,000. Mather Group LLC. grew 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 worth $27,000 after purchasing an additional 111 shares during the period. Versant Capital Management Inc increased its stake 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 in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Onto Innovation during the fourth quarter valued at about $43,000. Finally, Berbice Capital Management LLC bought a new position in shares of Onto Innovation during the 4th quarter worth about $50,000. Institutional investors and hedge funds own 98.35% of the company's stock.

Insider Activity

In related 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 completion of the transaction, the chief executive officer now owns 150,492 shares in the company, valued at approximately $32,986,341.48. This represents a 18.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Srinivas Vedula sold 827 shares of the firm's 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 owns 15,223 shares of the company's stock, valued at $3,120,715. This trade represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 85,827 shares of company stock valued at $18,182,185 over the last three months. Corporate insiders own 0.72% of the company's stock.

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Onto Innovation Stock Performance

ONTO traded down $6.43 during mid-day trading on Friday, reaching $121.99. 979,804 shares of the stock were exchanged, compared to its average volume of 737,240. Onto Innovation Inc. has a 1 year low of $120.68 and a 1 year high of $238.93. The stock has a market capitalization of $6.01 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. The company has a 50 day moving average price of $164.57 and a two-hundred day moving average price of $178.80.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, topping 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%. Sell-side analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on ONTO shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $250.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Needham & Company LLC restated a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. StockNews.com upgraded Onto Innovation from a "sell" rating to a "hold" rating in a report on Thursday, February 27th. Oppenheimer decreased their price target on shares of Onto Innovation from $275.00 to $240.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Finally, Benchmark reaffirmed a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation 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. Based on data from MarketBeat, Onto Innovation presently has an average rating of "Moderate Buy" and a consensus price target of $231.88.

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.