1,683 Shares in Onto Innovation Inc. (NYSE:ONTO) Purchased by VELA Investment Management LLC

VELA Investment Management LLC bought a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,683 shares of the semiconductor company’s stock, valued at approximately $257,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ONTO. Fifth Third Bancorp boosted its holdings in Onto Innovation by 198.3% in the fourth quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 115 shares in the last quarter. Contravisory Investment Management Inc. bought a new stake in Onto Innovation during the 4th quarter valued at about $28,000. Huntington National Bank raised its holdings in Onto Innovation by 70.3% in the third quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock worth $31,000 after buying an additional 102 shares during the last quarter. Operose Advisors LLC bought a new position in shares of Onto Innovation in the third quarter worth approximately $49,000. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Onto Innovation by 51.3% during the third quarter. Public Employees Retirement System of Ohio now owns 516 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. B. Riley upped their price target on Onto Innovation from $195.00 to $205.00 and gave the company a “buy” rating in a report on Friday, February 9th. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. Evercore ISI began coverage on shares of Onto Innovation in a report on Tuesday. They issued an “outperform” rating and a $235.00 target price on the stock. Stifel Nicolaus increased their price target on Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a report on Monday, March 25th. Finally, Benchmark lifted their price objective on Onto Innovation from $145.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $191.60.

Insider Buying and Selling at Onto Innovation

In other news, Director David Brian Miller sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total value of $477,372.00. Following the transaction, the director now owns 9,008 shares in the company, valued at $1,535,773.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Onto Innovation news, CEO Michael P. Plisinski sold 40,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total value of $7,019,200.00. Following the completion of the sale, the chief executive officer now directly owns 235,492 shares in the company, valued at approximately $41,324,136.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David Brian Miller sold 2,800 shares of Onto Innovation stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total value of $477,372.00. Following the transaction, the director now owns 9,008 shares in the company, valued at approximately $1,535,773.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,170 shares of company stock valued at $8,266,955. 0.72% of the stock is owned by company insiders.

Onto Innovation Price Performance

Shares of NYSE:ONTO traded up $1.60 during midday trading on Tuesday, hitting $184.67. The company had a trading volume of 29,081 shares, compared to its average volume of 406,100. The company has a market cap of $9.07 billion, a price-to-earnings ratio of 74.48 and a beta of 1.40. The company has a fifty day moving average of $180.61 and a two-hundred day moving average of $154.30. Onto Innovation Inc. has a 12-month low of $76.40 and a 12-month high of $199.72.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The firm had revenue of $219.00 million during the quarter, compared to analysts’ expectations of $209.06 million. During the same period in the prior year, the company posted $1.57 earnings per share. The company’s revenue for the quarter was down 13.5% compared to the same quarter last year. Research analysts expect that Onto Innovation Inc. will post 4.7 earnings per share 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.