Onto Innovation Inc. (NYSE:ONTO) Shares Acquired by Tributary Capital Management LLC

Tributary Capital Management LLC increased its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 101.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 6,091 shares of the semiconductor company's stock after acquiring an additional 3,074 shares during the period. Tributary Capital Management LLC's holdings in Onto Innovation were worth $1,015,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ONTO. Millennium Management LLC lifted its position in shares of Onto Innovation by 304.9% during the second quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company's stock worth $98,329,000 after purchasing an additional 337,250 shares in the last quarter. Congress Asset Management Co. boosted its position in Onto Innovation by 38.1% in the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company's stock valued at $222,670,000 after buying an additional 295,869 shares during the last quarter. Citigroup Inc. grew its stake in shares of Onto Innovation by 811.7% during the third quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company's stock valued at $66,236,000 after acquiring an additional 284,115 shares in the last quarter. 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 last quarter. Finally, Barclays PLC lifted 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 worth $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.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Oppenheimer restated an "outperform" rating and set a $275.00 price objective on shares of Onto Innovation in a report on Tuesday, December 17th. Needham & Company LLC dropped their price target on shares of Onto Innovation from $245.00 to $230.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Cantor Fitzgerald began coverage on shares of Onto Innovation in a report on Monday, January 13th. They issued an "overweight" rating and a $250.00 price target on the stock. Jefferies Financial Group decreased their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a report on Friday, November 1st. Finally, Benchmark restated a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $253.75.

Insiders Place Their Bets

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the company's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael P. Plisinski sold 30,000 shares of Onto Innovation stock in a transaction that occurred 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. This trade represents a 13.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have 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.

Onto Innovation Price Performance

Shares of NYSE:ONTO traded down $3.78 during trading on Friday, reaching $213.26. 811,981 shares of the company's stock traded hands, compared to its average volume of 610,239. The stock has a market capitalization of $10.53 billion, a P/E ratio of 57.79, a price-to-earnings-growth ratio of 1.16 and a beta of 1.29. Onto Innovation Inc. has a 12 month low of $145.15 and a 12 month high of $238.93. The company has a 50 day moving average of $179.12 and a 200-day moving average of $191.85.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.31 by $0.03. The company had revenue of $252.20 million during the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The business's revenue was up 21.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.96 earnings per share. Equities research analysts predict that Onto Innovation Inc. will post 5.22 earnings per share for the current fiscal year.

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.