Wealthfront Advisers LLC Buys New Stake in Onto Innovation Inc. (NYSE:ONTO)

Wealthfront Advisers LLC acquired a new position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 121,092 shares of the semiconductor company's stock, valued at approximately $20,182,000. Wealthfront Advisers LLC owned about 0.25% of Onto Innovation as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Kestra Investment Management LLC acquired a new position in Onto Innovation during the fourth quarter worth approximately $26,000. Mather Group LLC. boosted its position in Onto Innovation by 209.4% during the 4th 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 raised its stake in Onto Innovation by 532.4% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company's stock valued at $39,000 after acquiring an additional 197 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Onto Innovation during the 4th quarter valued at $43,000. Finally, Berbice Capital Management LLC acquired a new position in Onto Innovation in the fourth quarter worth approximately $50,000. Institutional investors and hedge funds own 98.35% of the company's stock.

Onto Innovation Trading Up 0.9 %

Shares of ONTO stock opened at $124.58 on Wednesday. Onto Innovation Inc. has a 12 month low of $121.47 and a 12 month high of $238.93. The stock has a market cap of $6.14 billion, a P/E ratio of 30.68, a P/E/G ratio of 0.89 and a beta of 1.29. The company has a 50 day simple moving average of $179.62 and a two-hundred day simple moving average of $184.37.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ONTO shares. Needham & Company LLC reiterated a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Benchmark restated a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Oppenheimer lowered their target price on Onto Innovation from $275.00 to $240.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Cantor Fitzgerald restated an "overweight" rating and set a $250.00 price objective on shares of Onto Innovation in a 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $246.88.

Insiders Place Their Bets

In related news, CEO Michael P. Plisinski sold 20,000 shares of the stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the transaction, the chief executive officer now owns 215,492 shares of the company's stock, valued at approximately $43,139,343.48. This represents a 8.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the 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. The trade was a 5.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,827 shares of company stock valued at $18,182,185. Company 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.

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