TimesSquare Capital Management LLC Raises Stock Position in Onto Innovation Inc. (NYSE:ONTO)

TimesSquare Capital Management LLC boosted its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 47.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 154,376 shares of the semiconductor company's stock after purchasing an additional 49,795 shares during the period. TimesSquare Capital Management LLC owned about 0.31% of Onto Innovation worth $25,730,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new position in Onto Innovation during the fourth quarter valued at approximately $26,000. Mather Group LLC. lifted its position in Onto Innovation by 209.4% during the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 111 shares during the period. Versant Capital Management Inc lifted its position in 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 purchasing an additional 197 shares during the period. Berbice Capital Management LLC bought a new position in Onto Innovation during the fourth quarter valued at approximately $50,000. Finally, Eastern Bank bought a new position in Onto Innovation during the third quarter valued at approximately $65,000. Institutional investors own 98.35% of the company's stock.

Onto Innovation Stock Performance

Shares of NYSE ONTO traded down $7.92 during midday trading on Friday, reaching $159.23. The stock had a trading volume of 1,021,139 shares, compared to its average volume of 1,055,435. The stock has a 50-day moving average of $186.90 and a 200-day moving average of $189.41. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of 39.22, a price-to-earnings-growth ratio of 0.89 and a beta of 1.31. Onto Innovation Inc. has a 12-month low of $145.15 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping 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 forecast that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Analyst Ratings Changes

ONTO has been the topic of a number of research analyst reports. Needham & Company LLC restated a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Stifel Nicolaus reduced their target price on shares of Onto Innovation from $270.00 to $250.00 and set a "buy" rating for the company in a report on Friday, February 7th. StockNews.com cut shares of Onto Innovation from a "hold" rating to a "sell" rating in a report on Tuesday, February 11th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $250.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Finally, Oppenheimer reduced their target price on shares of Onto Innovation from $275.00 to $240.00 and set an "outperform" rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $246.88.

Insider Transactions at Onto Innovation

In other Onto Innovation news, CEO Michael P. Plisinski sold 30,000 shares of Onto Innovation stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $211.24, for a total value of $6,337,200.00. Following the sale, the chief executive officer now directly owns 185,492 shares in the company, valued at approximately $39,183,330.08. The trade was a 13.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction of $169,535.00. Following the completion of the sale, the senior vice president now owns 15,223 shares in the company, valued at approximately $3,120,715. This represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,827 shares of company stock valued at $18,182,185 over the last three months. Corporate insiders own 0.72% of the company's stock.

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.