Norges Bank bought a new stake in Onto Innovation Inc. (NYSE:ONTO – Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 587,217 shares of the semiconductor company’s stock, valued at approximately $89,785,000. Norges Bank owned about 1.20% of Onto Innovation as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Onto Innovation by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,728,291 shares of the semiconductor company’s stock valued at $730,472,000 after buying an additional 27,695 shares during the period. Paradigm Capital Management Inc. NY lifted its position in shares of Onto Innovation by 0.4% during the third quarter. Paradigm Capital Management Inc. NY now owns 1,182,689 shares of the semiconductor company’s stock worth $150,817,000 after purchasing an additional 4,400 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Onto Innovation by 113.7% in the third quarter. Invesco Ltd. now owns 1,074,877 shares of the semiconductor company’s stock valued at $137,068,000 after purchasing an additional 571,917 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Onto Innovation by 14,819.4% in the fourth quarter. International Assets Investment Management LLC now owns 615,575 shares of the semiconductor company’s stock valued at $94,121,000 after purchasing an additional 611,449 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Onto Innovation by 0.8% during the 3rd quarter. Northern Trust Corp now owns 608,293 shares of the semiconductor company’s stock worth $77,570,000 after buying an additional 4,583 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.
Insider Buying and Selling at Onto Innovation
In other news, VP Yoon Ah Oh sold 1,685 shares of Onto Innovation stock in a transaction on Monday, March 18th. The shares were sold at an average price of $180.00, for a total value of $303,300.00. Following the transaction, the vice president now directly owns 14,913 shares of the company’s stock, valued at approximately $2,684,340. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Onto Innovation news, CEO Michael P. Plisinski sold 40,000 shares of Onto Innovation stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total value of $7,019,200.00. Following the transaction, the chief executive officer now directly owns 235,492 shares in the company, valued at approximately $41,324,136.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Yoon Ah Oh sold 1,685 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $180.00, for a total value of $303,300.00. Following the completion of the transaction, the vice president now directly owns 14,913 shares in the company, valued at approximately $2,684,340. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,370 shares of company stock worth $7,789,583. 0.72% of the stock is owned by insiders.
Analyst Ratings Changes
ONTO has been the subject of several research reports. Needham & Company LLC restated a “hold” rating on shares of Onto Innovation in a research note on Friday, May 10th. Jefferies Financial Group began coverage on Onto Innovation in a report on Monday, May 13th. They set a “buy” rating and a $265.00 price target on the stock. Stifel Nicolaus lifted their price objective on Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Benchmark upped their target price on shares of Onto Innovation from $180.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Finally, Evercore ISI boosted their price target on shares of Onto Innovation from $235.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 10th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Onto Innovation currently has an average rating of “Moderate Buy” and an average price target of $242.00.
Check Out Our Latest Report on Onto Innovation
Onto Innovation Stock Up 2.5 %
Shares of ONTO opened at $233.14 on Friday. The company has a market capitalization of $11.49 billion, a price-to-earnings ratio of 82.97 and a beta of 1.40. Onto Innovation Inc. has a 52-week low of $99.71 and a 52-week high of $238.13. The stock has a 50 day moving average price of $195.36 and a 200 day moving average price of $170.22.
Onto Innovation (NYSE:ONTO – Get Free Report) last posted its earnings results on Thursday, May 9th. The semiconductor company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.08. The business had revenue of $228.80 million for the quarter, compared to analysts’ expectations of $222.60 million. Onto Innovation had a return on equity of 11.48% and a net margin of 16.43%. The business’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 earnings per share. On average, equities analysts anticipate that Onto Innovation Inc. will post 5.01 EPS for the current fiscal year.
Onto Innovation Profile
(Free Report)
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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