251,672 Shares in Onto Innovation Inc. (NYSE:ONTO) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 251,672 shares of the semiconductor company's stock, valued at approximately $41,946,000. Proficio Capital Partners LLC owned 0.51% of Onto Innovation at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ONTO. Taylor Frigon Capital Management LLC purchased a new position in shares of Onto Innovation during the fourth quarter worth about $1,928,000. Olympiad Research LP purchased a new position in Onto Innovation in the 4th quarter worth approximately $246,000. TimesSquare Capital Management LLC increased its holdings in shares of Onto Innovation by 47.6% in the 4th quarter. TimesSquare Capital Management LLC now owns 154,376 shares of the semiconductor company's stock worth $25,730,000 after buying an additional 49,795 shares during the last quarter. Kestra Investment Management LLC bought a new position in shares of Onto Innovation in the 4th quarter worth $26,000. Finally, Peregrine Capital Management LLC lifted its holdings in shares of Onto Innovation by 1.7% during the 4th quarter. Peregrine Capital Management LLC now owns 41,044 shares of the semiconductor company's stock worth $6,841,000 after acquiring an additional 685 shares during the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Onto Innovation Stock Up 1.4 %

Shares of Onto Innovation stock traded up $1.91 during trading on Tuesday, reaching $137.92. 799,903 shares of the stock were exchanged, compared to its average volume of 1,010,797. The firm has a market cap of $6.80 billion, a price-to-earnings ratio of 34.02, a price-to-earnings-growth ratio of 0.89 and a beta of 1.31. Onto Innovation Inc. has a 1 year low of $129.53 and a 1 year high of $238.93. The stock's fifty day moving average is $184.27 and its 200 day moving average is $187.75.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings data 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 return on equity of 14.24% and a net margin of 20.43%. Equities analysts forecast that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Activity at Onto Innovation

In related news, CEO Michael P. Plisinski sold 20,000 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the transaction, the chief executive officer now owns 215,492 shares in the company, valued at $43,139,343.48. This represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction on Wednesday, January 15th. The stock was 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 directly owns 15,223 shares of the company's stock, valued at $3,120,715. The trade was a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock worth $18,182,185 over the last ninety days. 0.72% of the stock is owned by corporate insiders.

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.