Raymond James Financial Inc. Buys Shares of 263,347 Onto Innovation Inc. (NYSE:ONTO)

Raymond James Financial Inc. bought a new position in shares of Onto Innovation Inc. (NYSE:ONTO) during the 4th quarter, Holdings Channel reports. The firm bought 263,347 shares of the semiconductor company’s stock, valued at approximately $43,893,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Onto Innovation by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company’s stock valued at $861,040,000 after acquiring an additional 76,233 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Onto Innovation by 9.2% in the 4th quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company’s stock valued at $365,380,000 after purchasing an additional 183,839 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Onto Innovation by 21.2% in the 4th quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company’s stock valued at $258,883,000 after purchasing an additional 271,470 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Onto Innovation by 41.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company’s stock worth $252,530,000 after purchasing an additional 444,860 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Onto Innovation by 2.8% during the third quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company’s stock worth $305,107,000 after buying an additional 39,367 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insider Activity at Onto Innovation

In other news, SVP Srinivas Vedula sold 827 shares of the business’s 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael P. Plisinski sold 20,000 shares of the firm’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total value of $4,003,800.00. Following the transaction, the chief executive officer now owns 215,492 shares in the company, valued at $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. Over the last 90 days, insiders sold 85,827 shares of company stock valued at $18,182,185. Insiders own 0.72% of the company’s stock.

Onto Innovation Price Performance

Shares of NYSE ONTO opened at $124.58 on Wednesday. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a 1-year low of $121.47 and a 1-year high of $238.93. The business has a 50-day moving average of $179.62 and a 200-day moving average of $184.37.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, beating 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%. Research analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on ONTO. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Stifel Nicolaus dropped their price objective on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, February 7th. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. Oppenheimer lowered their price objective on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Finally, Benchmark reaffirmed a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $246.88.

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.