New York Life Investment Management LLC Increases Stake in Onto Innovation Inc. (NYSE:ONTO)

New York Life Investment Management LLC grew its position in Onto Innovation Inc. (NYSE:ONTO) by 133.8% during the 4th quarter, HoldingsChannel reports. The fund owned 9,456 shares of the semiconductor company’s stock after purchasing an additional 5,411 shares during the period. New York Life Investment Management LLC’s holdings in Onto Innovation were worth $1,446,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ONTO. Vontobel Holding Ltd. grew its holdings in Onto Innovation by 1.2% during the 4th quarter. Vontobel Holding Ltd. now owns 6,535 shares of the semiconductor company’s stock worth $999,000 after acquiring an additional 75 shares in the last quarter. Campbell Newman Asset Management Inc. grew its holdings in Onto Innovation by 0.4% during the 4th quarter. Campbell Newman Asset Management Inc. now owns 18,538 shares of the semiconductor company’s stock worth $2,834,000 after acquiring an additional 78 shares in the last quarter. Huntington National Bank grew its holdings in Onto Innovation by 70.3% during the 3rd quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 102 shares in the last quarter. Fifth Third Bancorp grew its holdings in Onto Innovation by 198.3% during the 4th quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 115 shares in the last quarter. Finally, Juncture Wealth Strategies LLC grew its holdings in Onto Innovation by 1.4% during the 4th quarter. Juncture Wealth Strategies LLC now owns 9,494 shares of the semiconductor company’s stock worth $1,452,000 after acquiring an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insider Transactions at Onto Innovation

In other news, VP Yoon Ah Oh sold 1,685 shares of the firm’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 transaction of $303,300.00. Following the sale, the vice president now 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 available through the SEC website. In other news, CEO Michael P. Plisinski sold 40,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 235,492 shares of the company’s stock, valued at approximately $41,324,136.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Yoon Ah Oh sold 1,685 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $180.00, for a total transaction of $303,300.00. Following the sale, 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. Insiders have sold 47,170 shares of company stock valued at $8,266,955 in the last 90 days. 0.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ONTO has been the subject of several analyst reports. Evercore ISI initiated coverage on shares of Onto Innovation in a research report on Tuesday, April 16th. They set an “outperform” rating and a $235.00 price target for the company. Benchmark increased their price target on shares of Onto Innovation from $145.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, February 9th. B. Riley increased their price objective on shares of Onto Innovation from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Stifel Nicolaus increased their price objective on shares of Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Finally, StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Onto Innovation has a consensus rating of “Moderate Buy” and a consensus target price of $191.60.

Onto Innovation Trading Up 1.3 %

ONTO opened at $211.34 on Wednesday. Onto Innovation Inc. has a 12-month low of $84.17 and a 12-month high of $213.47. The firm has a market capitalization of $10.38 billion, a PE ratio of 85.91 and a beta of 1.40. The firm has a 50 day moving average of $185.05 and a two-hundred day moving average of $160.64.

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

Onto Innovation Company 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.