KLP Kapitalforvaltning AS Invests $1.67 Million in Onto Innovation Inc. (NYSE:ONTO)

KLP Kapitalforvaltning AS purchased a new stake in Onto Innovation Inc. (NYSE:ONTO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 10,025 shares of the semiconductor company’s stock, valued at approximately $1,671,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of Onto Innovation by 12.9% in 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. State Street Corp raised its stake in Onto Innovation by 2.8% during the 3rd quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company’s stock valued at $305,107,000 after purchasing an additional 39,367 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Onto Innovation by 4.5% in the third quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company’s stock valued at $288,320,000 after purchasing an additional 54,868 shares in the last quarter. Geneva Capital Management LLC grew its holdings in shares of Onto Innovation by 7.6% during the fourth quarter. Geneva Capital Management LLC now owns 1,010,691 shares of the semiconductor company’s stock valued at $168,452,000 after buying an additional 71,050 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Onto Innovation by 1.6% during the third quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company’s stock valued at $173,401,000 after buying an additional 13,405 shares during the period. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the business’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 owns 15,223 shares of the company’s stock, valued at $3,120,715. The trade was a 5.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael P. Plisinski sold 35,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 150,492 shares in the company, valued at approximately $32,986,341.48. This represents a 18.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,827 shares of company stock valued at $18,182,185 over the last 90 days. 0.72% of the stock is currently owned by company insiders.

Onto Innovation Trading Down 5.0 %

Shares of NYSE:ONTO opened at $121.99 on Friday. The stock has a market capitalization of $6.01 billion, a PE ratio of 30.05, a P/E/G ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a 1 year low of $120.68 and a 1 year high of $238.93. The firm has a fifty day moving average price of $164.57 and a 200 day moving average price of $178.83.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results 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 return on equity of 14.24% and a net margin of 20.43%. On average, sell-side analysts forecast that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ONTO has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Benchmark reaffirmed a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Jefferies Financial Group cut their target price on shares of Onto Innovation from $245.00 to $175.00 and set a “buy” rating for the company in a research report on Friday. Oppenheimer lowered their price target 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. Finally, StockNews.com upgraded Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.