Taylor Frigon Capital Management LLC Makes New $1.93 Million Investment in Onto Innovation Inc. (NYSE:ONTO)

Taylor Frigon Capital Management LLC purchased a new position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,566 shares of the semiconductor company's stock, valued at approximately $1,928,000.

Several other large investors have also modified their holdings of ONTO. Congress Asset Management Co. lifted its position in shares of Onto Innovation by 38.1% during the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company's stock worth $222,670,000 after purchasing an additional 295,869 shares during the last quarter. Citigroup Inc. lifted its holdings in Onto Innovation by 811.7% in the third quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company's stock worth $66,236,000 after acquiring an additional 284,115 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company's stock worth $416,863,000 after acquiring an additional 228,800 shares during the last quarter. Barclays PLC lifted its holdings in Onto Innovation by 1,296.7% in the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company's stock worth $45,079,000 after acquiring an additional 201,640 shares during the last quarter. Finally, FMR LLC lifted its holdings in Onto Innovation by 20.5% in the third quarter. FMR LLC now owns 825,682 shares of the semiconductor company's stock worth $171,379,000 after acquiring an additional 140,659 shares during the last quarter. Institutional investors own 98.35% of the company's stock.

Insider Activity at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction that occurred 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 transaction, the senior vice president now owns 15,223 shares in the company, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation stock in a transaction that occurred 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 transaction, the chief executive officer now owns 150,492 shares in the company, valued at approximately $32,986,341.48. This trade represents a 18.87 % 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 quarter. 0.72% of the stock is currently owned by company insiders.

Onto Innovation Price Performance

Shares of NYSE ONTO traded up $0.03 during mid-day trading on Friday, reaching $145.60. 1,399,822 shares of the company traded hands, compared to its average volume of 1,011,634. Onto Innovation Inc. has a fifty-two week low of $141.50 and a fifty-two week high of $238.93. The firm has a market cap of $7.19 billion, a PE ratio of 35.86, a price-to-earnings-growth ratio of 0.89 and a beta of 1.31. The stock has a fifty day simple moving average of $185.04 and a 200-day simple moving average of $188.35.

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

Analyst Upgrades and Downgrades

ONTO has been the topic of a number of recent research reports. Stifel Nicolaus cut 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. Oppenheimer cut their target price on shares of Onto Innovation from $275.00 to $240.00 and set an "outperform" rating on the stock in a report on Thursday, February 20th. Benchmark reissued a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Cantor Fitzgerald reissued an "overweight" rating and issued a $250.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Finally, Needham & Company LLC restated a "buy" rating and issued a $230.00 price target 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 issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $246.88.

Onto Innovation Company 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.