JPMorgan Chase & Co. Acquires 183,839 Shares of Onto Innovation Inc. (NYSE:ONTO)

JPMorgan Chase & Co. increased its holdings in Onto Innovation Inc. (NYSE:ONTO) by 9.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,192,238 shares of the semiconductor company’s stock after buying an additional 183,839 shares during the period. JPMorgan Chase & Co.’s holdings in Onto Innovation were worth $365,380,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of ONTO. Kestra Investment Management LLC purchased a new position in shares of Onto Innovation in the 4th quarter valued at $26,000. Mather Group LLC. boosted its position in 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 purchasing an additional 111 shares in the last quarter. Versant Capital Management Inc grew its stake in Onto Innovation by 532.4% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 197 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Onto Innovation in the fourth quarter worth about $43,000. Finally, Berbice Capital Management LLC purchased a new stake in shares of Onto Innovation during the fourth quarter valued at about $50,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Performance

Onto Innovation stock opened at $121.99 on Monday. The business’s 50-day simple moving average is $164.57 and its two-hundred day simple moving average is $178.70. The company has a market cap of $6.01 billion, a PE ratio of 30.05, a PEG ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a fifty-two week low of $119.87 and a fifty-two week high of $238.93.

Onto Innovation (NYSE:ONTO) last issued its quarterly 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%. As a group, analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Srinivas Vedula sold 827 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total transaction of $169,535.00. Following the sale, the senior vice president now directly owns 15,223 shares of the company’s stock, valued at $3,120,715. This trade represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael P. Plisinski sold 20,000 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 215,492 shares of the company’s stock, valued at $43,139,343.48. The trade was a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,827 shares of company stock valued at $18,182,185 over the last 90 days. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Benchmark reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Oppenheimer reduced their price target on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Needham & Company LLC restated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Finally, Jefferies Financial Group decreased their price target on Onto Innovation from $245.00 to $175.00 and set a “buy” rating for the company in a research note on Friday. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Onto Innovation currently has an average rating of “Moderate Buy” and an average price target of $231.88.

About Onto Innovation

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.