51,599 Shares in Onto Innovation Inc. (NYSE:ONTO) Bought by Pier Capital LLC

Pier Capital LLC bought a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 51,599 shares of the semiconductor company’s stock, valued at approximately $8,600,000.

Several other institutional investors also recently bought and sold shares of the stock. UMB Bank n.a. increased its holdings in shares of Onto Innovation by 22.8% during the 4th quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock valued at $66,000 after acquiring an additional 74 shares during the last quarter. Northwest & Ethical Investments L.P. grew its holdings in Onto Innovation by 7.8% during the third quarter. Northwest & Ethical Investments L.P. now owns 1,050 shares of the semiconductor company’s stock valued at $218,000 after purchasing an additional 76 shares during the last quarter. Bridge City Capital LLC raised its position in shares of Onto Innovation by 1.0% in the fourth quarter. Bridge City Capital LLC now owns 8,165 shares of the semiconductor company’s stock valued at $1,361,000 after purchasing an additional 78 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Onto Innovation by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company’s stock worth $256,000 after buying an additional 81 shares during the last quarter. Finally, Hunter Perkins Capital Management LLC boosted its holdings in shares of Onto Innovation by 3.9% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 2,415 shares of the semiconductor company’s stock worth $403,000 after buying an additional 90 shares during the period. 98.35% of the stock is currently owned by institutional investors.

Insider Transactions at Onto Innovation

In other news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction that occurred 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. This represents a 5.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael P. Plisinski sold 35,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total value of $7,671,650.00. Following the completion of the sale, the chief executive officer now directly owns 150,492 shares in the company, valued at approximately $32,986,341.48. This represents a 18.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 85,827 shares of company stock valued at $18,182,185. Company insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ONTO. Stifel Nicolaus dropped their target price on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Oppenheimer dropped their price objective on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Benchmark restated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 price target on shares of Onto Innovation in a report on Friday, February 7th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $246.88.

Onto Innovation Stock Up 3.9 %

Onto Innovation stock opened at $140.87 on Tuesday. The business has a 50 day moving average price of $170.88 and a two-hundred day moving average price of $180.19. Onto Innovation Inc. has a 12 month low of $121.47 and a 12 month high of $238.93. The stock has a market cap of $6.94 billion, a price-to-earnings ratio of 34.70, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. On average, analysts expect that Onto Innovation Inc. will post 6.26 earnings per share 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.