Raymond James Financial Inc. Purchases Shares of 263,347 Onto Innovation Inc. (NYSE:ONTO)

Raymond James Financial Inc. acquired a new stake in Onto Innovation Inc. (NYSE:ONTO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 263,347 shares of the semiconductor company’s stock, valued at approximately $43,893,000. Raymond James Financial Inc. owned 0.53% of Onto Innovation as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of ONTO. Kestra Investment Management LLC acquired a new position in shares of Onto Innovation in the 4th quarter valued at about $26,000. Mather Group LLC. raised its position in shares of Onto Innovation by 209.4% in the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 111 shares during the period. Versant Capital Management Inc grew its position in shares of Onto Innovation by 532.4% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 197 shares during the period. SBI Securities Co. Ltd. acquired a new position in Onto Innovation in the 4th quarter worth about $43,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in Onto Innovation during the fourth quarter worth approximately $47,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ONTO. Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Oppenheimer cut their price objective on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. StockNews.com upgraded Onto Innovation from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Stifel Nicolaus dropped their price target on Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $246.88.

Insider Buying and Selling

In other Onto Innovation news, CEO Michael P. Plisinski sold 20,000 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total value of $4,003,800.00. Following the transaction, the chief executive officer now directly owns 215,492 shares in the company, valued at $43,139,343.48. This represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction of $169,535.00. Following the completion of the transaction, the senior vice president now 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 worth $18,182,185 over the last 90 days. 0.72% of the stock is owned by insiders.

Onto Innovation Stock Up 0.9 %

NYSE:ONTO opened at $124.58 on Wednesday. Onto Innovation Inc. has a 52 week low of $121.47 and a 52 week high of $238.93. The stock’s fifty day moving average is $179.62 and its two-hundred day moving average is $184.37. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 30.68, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, topping 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%. On average, sell-side analysts expect 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.