Perpetual Ltd Invests $232,000 in Onto Innovation Inc. (NYSE:ONTO)

Perpetual Ltd purchased a new position in shares of Onto Innovation Inc. (NYSE:ONTO) in the fourth quarter, HoldingsChannel reports. The firm purchased 1,394 shares of the semiconductor company’s stock, valued at approximately $232,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Millennium Management LLC raised its position in Onto Innovation by 304.9% in the 2nd quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company’s stock valued at $98,329,000 after purchasing an additional 337,250 shares in the last quarter. Congress Asset Management Co. raised its position in Onto Innovation by 38.1% in the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock valued at $222,670,000 after purchasing an additional 295,869 shares in the last quarter. Citigroup Inc. raised its position in Onto Innovation by 811.7% in the 3rd quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company’s stock valued at $66,236,000 after purchasing an additional 284,115 shares in the last quarter. JPMorgan Chase & Co. raised its position in 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 purchasing an additional 228,800 shares in the last quarter. Finally, Barclays PLC raised its position in Onto Innovation by 1,296.7% in the 3rd quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock valued at $45,079,000 after purchasing an additional 201,640 shares in the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Onto Innovation news, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total value of $7,671,650.00. Following the transaction, the chief executive officer now directly owns 150,492 shares in the company, valued at approximately $32,986,341.48. This trade represents a 18.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 15,223 shares in the company, valued at $3,120,715. This trade represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock worth $18,182,185 in the last quarter. 0.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ONTO shares. Oppenheimer reaffirmed an “outperform” rating and issued a $275.00 price target on shares of Onto Innovation in a research report on Tuesday, December 17th. Needham & Company LLC cut their target price on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Benchmark reissued a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday, November 1st. Cantor Fitzgerald started coverage on Onto Innovation in a research report on Monday, January 13th. They set an “overweight” rating and a $250.00 target price on the stock. Finally, Jefferies Financial Group cut their target price on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Onto Innovation presently has an average rating of “Moderate Buy” and a consensus target price of $253.75.

Onto Innovation Stock Down 3.6 %

NYSE:ONTO opened at $216.47 on Friday. The stock’s 50 day moving average price is $176.99 and its 200 day moving average price is $191.81. The company has a market capitalization of $10.69 billion, a PE ratio of 58.66, a P/E/G ratio of 1.13 and a beta of 1.29. Onto Innovation Inc. has a 52-week low of $145.15 and a 52-week high of $238.93.

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

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.