Tributary Capital Management LLC Has $1.02 Million Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Tributary Capital Management LLC grew its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 101.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,091 shares of the semiconductor company’s stock after acquiring an additional 3,074 shares during the period. Tributary Capital Management LLC’s holdings in Onto Innovation were worth $1,015,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ONTO. UMB Bank n.a. raised its stake in Onto Innovation by 22.8% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock valued at $66,000 after purchasing an additional 74 shares in the last quarter. Northwest & Ethical Investments L.P. increased its holdings in Onto Innovation by 7.8% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 1,050 shares of the semiconductor company’s stock valued at $218,000 after buying an additional 76 shares during the period. Quarry LP raised its position in shares of Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 79 shares in the last quarter. Hunter Perkins Capital Management LLC lifted its holdings in shares of Onto Innovation by 3.6% during the 3rd quarter. Hunter Perkins Capital Management LLC now owns 2,325 shares of the semiconductor company’s stock worth $483,000 after acquiring an additional 80 shares during the period. Finally, Huntington National Bank boosted its position in shares of Onto Innovation by 26.3% during the 3rd quarter. Huntington National Bank now owns 423 shares of the semiconductor company’s stock worth $88,000 after acquiring an additional 88 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors.

Onto Innovation Stock Down 1.7 %

Shares of NYSE:ONTO opened at $213.26 on Friday. The firm has a market cap of $10.53 billion, a P/E ratio of 57.79, a P/E/G ratio of 1.16 and a beta of 1.29. Onto Innovation Inc. has a 12-month low of $145.15 and a 12-month high of $238.93. The business has a fifty day simple moving average of $178.03 and a 200 day simple moving average of $191.98.

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

Insider Transactions at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of Onto Innovation 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 sale, the senior vice president now directly owns 15,223 shares in the company, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 in the company, valued at approximately $43,139,343.48. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,827 shares of company stock worth $18,182,185. Company insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

ONTO has been the subject of several recent analyst reports. Needham & Company LLC cut their target price on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Benchmark reiterated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, November 1st. Oppenheimer restated an “outperform” rating and issued a $275.00 target price on shares of Onto Innovation in a research report on Tuesday, December 17th. Cantor Fitzgerald assumed coverage on Onto Innovation in a research note on Monday, January 13th. They issued an “overweight” rating and a $250.00 price target for the company. Finally, Jefferies Financial Group cut their price objective on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, November 1st. One 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, the company has an average rating of “Moderate Buy” and a consensus price target of $253.75.

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.