Raymond James Financial Services Advisors Inc. Makes New Investment in Onto Innovation Inc. (NYSE:ONTO)

Raymond James Financial Services Advisors Inc. bought a new position in Onto Innovation Inc. (NYSE:ONTO) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 1,354 shares of the semiconductor company’s stock, valued at approximately $207,000.

Other institutional investors have also bought and sold shares of the company. Raymond James & Associates increased its holdings in shares of Onto Innovation by 153.6% during the 4th quarter. Raymond James & Associates now owns 14,516 shares of the semiconductor company’s stock worth $2,219,000 after buying an additional 8,792 shares during the last quarter. Advisor Resource Council acquired a new stake in shares of Onto Innovation during the 4th quarter worth approximately $781,000. Contravisory Investment Management Inc. acquired a new stake in Onto Innovation in the 4th quarter valued at approximately $28,000. Ausbil Investment Management Ltd increased its holdings in Onto Innovation by 151.3% in the 4th quarter. Ausbil Investment Management Ltd now owns 3,579 shares of the semiconductor company’s stock valued at $547,000 after purchasing an additional 2,155 shares during the last quarter. Finally, Juncture Wealth Strategies LLC increased its holdings in Onto Innovation by 1.4% in the 4th quarter. Juncture Wealth Strategies LLC now owns 9,494 shares of the semiconductor company’s stock valued at $1,452,000 after purchasing an additional 132 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several research firms recently weighed in on ONTO. Stifel Nicolaus lifted their target price on shares of Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a report on Monday, March 25th. Evercore ISI began coverage on shares of Onto Innovation in a report on Tuesday, April 16th. They issued an “outperform” rating and a $235.00 target price for the company. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a report on Monday, February 12th. B. Riley lifted their target price on shares of Onto Innovation from $195.00 to $205.00 and gave the company a “buy” rating in a report on Friday, February 9th. Finally, Benchmark lifted their target price on shares of Onto Innovation from $145.00 to $180.00 and gave the company a “buy” rating in a report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Onto Innovation has an average rating of “Moderate Buy” and a consensus target price of $191.60.

Onto Innovation Stock Up 0.4 %

NYSE:ONTO opened at $176.84 on Thursday. The company has a fifty day simple moving average of $181.96 and a two-hundred day simple moving average of $156.51. The company has a market cap of $8.69 billion, a price-to-earnings ratio of 71.89 and a beta of 1.40. Onto Innovation Inc. has a 52 week low of $76.40 and a 52 week high of $199.72.

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