EFG Asset Management North America Corp. Boosts Stake in Onto Innovation Inc. (NYSE:ONTO)

EFG Asset Management North America Corp. lifted its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 99.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,970 shares of the semiconductor company’s stock after acquiring an additional 9,448 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Onto Innovation were worth $3,160,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Cerity Partners LLC grew its stake in Onto Innovation by 287.0% during the 3rd quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock valued at $968,000 after purchasing an additional 3,458 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Onto Innovation by 1.6% during the third quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company’s stock worth $173,401,000 after buying an additional 13,405 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after buying an additional 228,800 shares during the last quarter. HighTower Advisors LLC raised its holdings in Onto Innovation by 72.0% in the third quarter. HighTower Advisors LLC now owns 10,184 shares of the semiconductor company’s stock valued at $2,095,000 after acquiring an additional 4,263 shares in the last quarter. Finally, Barclays PLC boosted its stake in Onto Innovation by 1,296.7% during the 3rd quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock valued at $45,079,000 after acquiring an additional 201,640 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analysts Set New Price Targets

ONTO has been the subject of several research analyst reports. StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Oppenheimer reduced their target price on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Finally, Stifel Nicolaus dropped their price target on Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $246.88.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, CEO Michael P. Plisinski sold 35,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the completion of the transaction, the chief executive officer now owns 150,492 shares in the company, valued at approximately $32,986,341.48. The trade was a 18.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Srinivas Vedula sold 827 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the transaction, the senior vice president now directly owns 15,223 shares of the company’s stock, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,827 shares of company stock valued at $18,182,185 in the last ninety days. Company insiders own 0.72% of the company’s stock.

Onto Innovation Price Performance

NYSE:ONTO opened at $140.87 on Tuesday. The firm has a market capitalization of $6.94 billion, a P/E ratio of 34.70, a P/E/G ratio of 0.89 and a beta of 1.29. The business has a 50 day simple moving average of $170.88 and a 200 day simple moving average of $180.19. Onto Innovation Inc. has a 12-month low of $121.47 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. Research analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Onto Innovation 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.