Raymond James & Associates Grows Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Raymond James & Associates raised its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 153.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,516 shares of the semiconductor company’s stock after buying an additional 8,792 shares during the period. Raymond James & Associates’ holdings in Onto Innovation were worth $2,219,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ONTO. Price T Rowe Associates Inc. MD boosted its position in shares of 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 worth $116,217,000 after buying an additional 592,920 shares during the period. Invesco Ltd. raised 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 acquiring an additional 571,917 shares in the last quarter. Norges Bank acquired a new stake in shares of Onto Innovation in the fourth quarter valued at $33,441,000. Envestnet Asset Management Inc. raised its stake in shares of Onto Innovation by 572.0% in the first quarter. Envestnet Asset Management Inc. now owns 527,016 shares of the semiconductor company’s stock valued at $6,392,000 after acquiring an additional 448,591 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of Onto Innovation in the first quarter valued at $26,541,000. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Onto Innovation Price Performance

Onto Innovation stock opened at $189.73 on Wednesday. Onto Innovation Inc. has a 1-year low of $76.40 and a 1-year high of $199.72. The stock has a market cap of $9.32 billion, a PE ratio of 77.13 and a beta of 1.40. The stock’s fifty day moving average is $181.29 and its two-hundred day moving average is $154.74.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.07. The company had revenue of $219.00 million for the quarter, compared to analyst estimates of $209.06 million. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The business’s quarterly revenue was down 13.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.57 earnings per share. On average, research analysts expect that Onto Innovation Inc. will post 4.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Onto Innovation news, CEO Michael P. Plisinski sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the transaction, the chief executive officer now owns 235,492 shares of the company’s stock, valued at $41,324,136.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director David Brian Miller sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total transaction of $477,372.00. Following the transaction, the director now owns 9,008 shares of the company’s stock, valued at $1,535,773.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael P. Plisinski sold 40,000 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,170 shares of company stock valued at $8,266,955. 0.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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