1,683 Shares in Onto Innovation Inc. (NYSE:ONTO) Bought by VELA Investment Management LLC

VELA Investment Management LLC bought a new position in Onto Innovation Inc. (NYSE:ONTO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,683 shares of the semiconductor company’s stock, valued at approximately $257,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Onto Innovation by 0.5% in the third quarter. Vanguard Group Inc. now owns 5,728,291 shares of the semiconductor company’s stock worth $730,472,000 after purchasing an additional 27,695 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Onto Innovation by 14.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,891,994 shares of the semiconductor company’s stock worth $128,826,000 after buying an additional 239,310 shares in the last quarter. State Street Corp lifted its holdings in shares of Onto Innovation by 3.6% in the first quarter. State Street Corp now owns 1,687,670 shares of the semiconductor company’s stock valued at $148,312,000 after buying an additional 58,146 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Onto Innovation by 55.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,666,438 shares of the semiconductor company’s stock valued at $116,217,000 after buying an additional 592,920 shares in the last quarter. Finally, Robeco Schweiz AG grew its holdings in Onto Innovation by 10.2% during the first quarter. Robeco Schweiz AG now owns 1,300,000 shares of the semiconductor company’s stock worth $112,957,000 after acquiring an additional 120,000 shares during the period. 98.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, VP Yoon Ah Oh sold 2,685 shares of Onto Innovation stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $173.96, for a total transaction of $467,082.60. Following the completion of the transaction, the vice president now owns 16,598 shares in the company, valued at approximately $2,887,388.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael P. Plisinski sold 40,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total value of $7,019,200.00. Following the completion of the sale, the chief executive officer now owns 235,492 shares in the company, valued at $41,324,136.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Yoon Ah Oh sold 2,685 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $173.96, for a total transaction of $467,082.60. Following the transaction, the vice president now directly owns 16,598 shares in the company, valued at $2,887,388.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,170 shares of company stock valued at $8,266,955. Corporate insiders own 0.72% of the company’s stock.

Onto Innovation Price Performance

Shares of ONTO traded up $1.60 during trading hours on Tuesday, hitting $184.67. The stock had a trading volume of 29,081 shares, compared to its average volume of 406,100. The firm has a 50 day simple moving average of $180.61 and a 200-day simple moving average of $154.30. Onto Innovation Inc. has a 1-year low of $76.40 and a 1-year high of $199.72. The firm has a market capitalization of $9.07 billion, a P/E ratio of 74.48 and a beta of 1.40.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The company had revenue of $219.00 million for the quarter, compared to analyst estimates of $209.06 million. During the same period in the prior year, the firm earned $1.57 earnings per share. Onto Innovation’s revenue for the quarter was down 13.5% on a year-over-year basis. Equities analysts predict that Onto Innovation Inc. will post 4.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the company. B. Riley raised their price objective on Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Evercore ISI assumed coverage on shares of Onto Innovation in a research report on Tuesday. They issued an “outperform” rating and a $235.00 target price for the company. Stifel Nicolaus increased their price target on shares of Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Benchmark upped their target price on Onto Innovation from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Finally, StockNews.com upgraded Onto Innovation from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.60.

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.