Norden Group LLC Has $560,000 Position in Onto Innovation Inc. (NYSE:ONTO)

Norden Group LLC boosted its holdings in Onto Innovation Inc. (NYSE:ONTO) by 6.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,362 shares of the semiconductor company’s stock after buying an additional 198 shares during the period. Norden Group LLC’s holdings in Onto Innovation were worth $560,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Kestra Investment Management LLC acquired a new position in Onto Innovation in the fourth quarter valued at approximately $26,000. Mather Group LLC. raised its holdings in Onto Innovation by 209.4% in the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 111 shares during the period. Versant Capital Management Inc raised its holdings in Onto Innovation by 532.4% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 197 shares during the period. Berbice Capital Management LLC acquired a new stake in Onto Innovation in the fourth quarter worth $50,000. Finally, UMB Bank n.a. raised its holdings in Onto Innovation by 22.8% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock worth $66,000 after purchasing an additional 74 shares during the period. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Onto Innovation

In related news, 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 value 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. This trade represents a 18.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction 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 trade represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 85,827 shares of company stock valued at $18,182,185. Corporate insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on ONTO. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Stifel Nicolaus cut 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 cut their target price on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Finally, Benchmark reiterated a “buy” rating and issued a $230.00 target price 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $246.88.

Onto Innovation Stock Down 6.6 %

Shares of ONTO stock opened at $136.10 on Tuesday. The firm has a fifty day moving average of $184.27 and a 200-day moving average of $187.75. Onto Innovation Inc. has a 12-month low of $133.19 and a 12-month high of $238.93. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of 33.52, a P/E/G ratio of 0.89 and a beta of 1.31.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (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, equities analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current year.

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.