Raymond James Financial Inc. Takes Position in Onto Innovation Inc. (NYSE:ONTO)

Raymond James Financial Inc. bought a new stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 263,347 shares of the semiconductor company's stock, valued at approximately $43,893,000. Raymond James Financial Inc. owned approximately 0.53% of Onto Innovation as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company's stock valued at $416,863,000 after purchasing an additional 228,800 shares in the last quarter. State Street Corp lifted its holdings in shares of Onto Innovation by 2.8% in the third quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company's stock valued at $305,107,000 after purchasing an additional 39,367 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Onto Innovation by 4.5% during the third quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company's stock valued at $288,320,000 after acquiring an additional 54,868 shares during the last quarter. Geneva Capital Management LLC increased its position in shares of Onto Innovation by 2.6% during the third quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company's stock valued at $195,032,000 after acquiring an additional 23,628 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Onto Innovation by 1.6% during the third quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company's stock valued at $173,401,000 after acquiring an additional 13,405 shares during the last quarter. Institutional investors own 98.35% of the company's stock.

Onto Innovation Price Performance

Onto Innovation stock opened at $124.58 on Wednesday. Onto Innovation Inc. has a one year low of $121.47 and a one year high of $238.93. The business has a fifty day moving average price of $179.62 and a 200-day moving average price of $184.37. The firm has a market capitalization of $6.14 billion, a P/E ratio of 30.68, a PEG ratio of 0.89 and a beta of 1.29.

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Onto Innovation (NYSE:ONTO - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. Sell-side analysts expect that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Insider Transactions at Onto Innovation

In related news, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the completion of the sale, the chief executive officer now owns 150,492 shares of the company's stock, valued at approximately $32,986,341.48. This trade represents a 18.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the sale, the senior vice president now directly owns 15,223 shares of the company's stock, valued at $3,120,715. This represents a 5.15 % decrease in their position. 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 three months. Company insiders own 0.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ONTO. Needham & Company LLC reaffirmed a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Oppenheimer decreased their price target on Onto Innovation from $275.00 to $240.00 and set an "outperform" rating for the company in a research report on Thursday, February 20th. Stifel Nicolaus decreased their price target on Onto Innovation from $270.00 to $250.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Benchmark reaffirmed a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Finally, StockNews.com raised Onto Innovation from a "sell" rating to a "hold" rating in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Onto Innovation currently has a consensus rating of "Moderate Buy" and an average target price of $246.88.

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.

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