Onto Innovation Inc. (NYSE:ONTO) Stake Lifted by Prudential Financial Inc.

Prudential Financial Inc. boosted its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 330,584 shares of the semiconductor company's stock after acquiring an additional 35,307 shares during the period. Prudential Financial Inc. owned about 0.67% of Onto Innovation worth $55,098,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kestra Investment Management LLC acquired a new position in shares of Onto Innovation during the 4th quarter worth approximately $26,000. Mather Group LLC. lifted its position in shares of 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 acquiring an additional 111 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Onto Innovation by 532.4% during the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company's stock valued at $39,000 after acquiring an additional 197 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Onto Innovation during the 4th quarter worth about $43,000. Finally, Berbice Capital Management LLC acquired a new position in Onto Innovation in the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 98.35% of the company's stock.

Onto Innovation Stock Performance

ONTO traded down $6.43 on Friday, reaching $121.99. 979,804 shares of the company's stock were exchanged, compared to its average volume of 737,240. Onto Innovation Inc. has a twelve month low of $120.68 and a twelve month high of $238.93. The company's 50 day moving average is $164.57 and its 200-day moving average is $178.80. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 0.89 and a beta of 1.29.

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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 (EPS) 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 forecast that Onto Innovation Inc. will post 6.26 EPS for the current year.

Insider Transactions at Onto Innovation

In other news, CEO Michael P. Plisinski sold 20,000 shares of Onto Innovation stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the sale, the chief executive officer now directly owns 215,492 shares of the company's stock, valued at approximately $43,139,343.48. The trade was a 8.49 % decrease in their ownership of the stock. 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 on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction of $169,535.00. Following the transaction, the senior vice president now owns 15,223 shares in the company, valued at $3,120,715. This trade represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,827 shares of company stock valued at $18,182,185 over the last quarter. Company insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

ONTO has been the topic of several recent analyst reports. StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Oppenheimer reduced their target price on Onto Innovation from $275.00 to $240.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. Jefferies Financial Group lowered their price target on Onto Innovation from $245.00 to $175.00 and set a "buy" rating for the company in a report on Friday. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $250.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $231.88.

About Onto Innovation

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.