Onto Innovation Inc. (NYSE:ONTO) Shares Acquired by Gagnon Securities LLC

Gagnon Securities LLC increased its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 8.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,457 shares of the semiconductor company’s stock after purchasing an additional 113 shares during the period. Gagnon Securities LLC’s holdings in Onto Innovation were worth $243,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of ONTO. Congress Asset Management Co. raised its position in shares of Onto Innovation by 38.1% during the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after purchasing an additional 295,869 shares during the last quarter. Citigroup Inc. raised its position in shares of Onto Innovation by 811.7% during the 3rd quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company’s stock worth $66,236,000 after purchasing an additional 284,115 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Onto Innovation by 12.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock valued at $416,863,000 after acquiring an additional 228,800 shares in the last quarter. Barclays PLC grew 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 in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in Onto Innovation during the 3rd quarter valued at about $30,418,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Onto Innovation in a research note on Monday, January 13th. They set an “overweight” rating and a $250.00 price objective for the company. Oppenheimer reissued an “outperform” rating and issued a $275.00 price target on shares of Onto Innovation in a research note on Tuesday, December 17th. Benchmark reissued a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, November 1st. Needham & Company LLC dropped their price target on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Finally, Jefferies Financial Group dropped their price target on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.75.

Onto Innovation Stock Performance

Shares of ONTO stock opened at $205.07 on Friday. The firm’s 50 day moving average price is $181.34 and its 200-day moving average price is $190.72. Onto Innovation Inc. has a one year low of $145.15 and a one year high of $238.93. The firm has a market cap of $10.13 billion, a P/E ratio of 55.57, a P/E/G ratio of 0.99 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.31 by $0.03. The firm had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The business’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.96 EPS. As a group, research analysts predict that Onto Innovation Inc. will post 5.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Srinivas Vedula sold 827 shares of the firm’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 sale, the senior vice president now directly owns 15,223 shares in the company, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael P. Plisinski sold 35,000 shares of the firm’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 sale, the chief executive officer now owns 150,492 shares in the company, valued at $32,986,341.48. The trade was a 18.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,827 shares of company stock worth $18,182,185 in the last ninety days. 0.72% of the stock is owned by corporate insiders.

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.