Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 18.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,782 shares of the semiconductor company’s stock after purchasing an additional 2,466 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Onto Innovation were worth $2,630,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Kestra Investment Management LLC purchased a new position in Onto Innovation during the fourth quarter worth about $26,000. Mather Group LLC. increased its position in shares of Onto Innovation by 209.4% during the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 111 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Onto Innovation by 532.4% during the fourth 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 last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Onto Innovation during the fourth quarter valued at about $43,000. Finally, Berbice Capital Management LLC acquired a new stake in shares of Onto Innovation during the fourth quarter valued at about $50,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, 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 value of $169,535.00. Following the completion of the transaction, the senior vice president now owns 15,223 shares in the company, valued at approximately $3,120,715. This represents a 5.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael P. Plisinski sold 35,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were 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 of the company’s stock, valued at approximately $32,986,341.48. The trade was a 18.87 % 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 in the last 90 days. Corporate insiders own 0.72% of the company’s stock.

Onto Innovation Stock Performance

Shares of ONTO stock opened at $138.72 on Friday. Onto Innovation Inc. has a fifty-two week low of $121.47 and a fifty-two week high of $238.93. The stock has a market capitalization of $6.83 billion, a P/E ratio of 34.17, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. The company has a 50 day moving average price of $177.40 and a 200 day moving average price of $183.00.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS 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, research analysts forecast that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.