Onto Innovation Inc. (NYSE:ONTO) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 8.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 350,261 shares of the semiconductor company's stock after purchasing an additional 28,741 shares during the period. Thrivent Financial for Lutherans owned approximately 0.71% of Onto Innovation worth $58,378,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Citigroup Inc. grew its holdings in shares of Onto Innovation by 811.7% in the third quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company's stock valued at $66,236,000 after purchasing an additional 284,115 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Onto Innovation in the 4th quarter valued at approximately $43,893,000. Proficio Capital Partners LLC acquired a new position in shares of Onto Innovation in the fourth quarter worth $41,946,000. JPMorgan Chase & Co. increased its position in shares of Onto Innovation by 12.9% during 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 period. Finally, Barclays PLC raised its stake in shares of Onto Innovation by 1,296.7% in the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company's stock valued at $45,079,000 after acquiring an additional 201,640 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

Wall Street Analyst Weigh In

ONTO has been the subject of several analyst reports. Cantor Fitzgerald reissued an "overweight" rating and set a $250.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Stifel Nicolaus lowered their price objective 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. Needham & Company LLC restated a "buy" rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. 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 reiterated a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. One investment 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 currently has a consensus rating of "Moderate Buy" and an average target price of $246.88.

Remove Ads

Onto Innovation Stock Up 3.9 %

ONTO traded up $5.28 on Monday, reaching $140.87. The company's stock had a trading volume of 661,466 shares, compared to its average volume of 696,031. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of 34.70, a P/E/G ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a fifty-two week low of $121.47 and a fifty-two week high of $238.93. The stock has a 50 day moving average of $171.89 and a two-hundred day moving average of $180.52.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating 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%. As a group, analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In related news, SVP Srinivas Vedula sold 827 shares of the company's stock in a transaction dated 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. This represents a 5.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael P. Plisinski sold 20,000 shares of Onto Innovation stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total value of $4,003,800.00. Following the transaction, the chief executive officer now directly owns 215,492 shares in the company, valued at approximately $43,139,343.48. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,827 shares of company stock worth $18,182,185 over the last 90 days. Corporate insiders own 0.72% of the company's stock.

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.