Proficio Capital Partners LLC Invests $41.95 Million in Onto Innovation Inc. (NYSE:ONTO)

Proficio Capital Partners LLC purchased a new position in shares of Onto Innovation Inc. (NYSE:ONTO) during the fourth quarter, HoldingsChannel reports. The firm purchased 251,672 shares of the semiconductor company’s stock, valued at approximately $41,946,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ONTO. Kestra Investment Management LLC acquired a new position in shares of Onto Innovation during the fourth quarter worth about $26,000. Mather Group LLC. boosted its holdings in Onto Innovation by 209.4% during the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock worth $27,000 after buying an additional 111 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Onto Innovation by 532.4% during the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after buying an additional 197 shares in the last quarter. Berbice Capital Management LLC purchased a new stake in Onto Innovation during the fourth quarter worth about $50,000. Finally, UMB Bank n.a. boosted its holdings in Onto Innovation by 22.8% during the fourth quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock worth $66,000 after buying an additional 74 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Price Performance

Shares of NYSE ONTO opened at $145.60 on Friday. Onto Innovation Inc. has a 12-month low of $141.50 and a 12-month high of $238.93. The company has a market capitalization of $7.19 billion, a PE ratio of 35.86, a price-to-earnings-growth ratio of 0.89 and a beta of 1.31. The firm’s 50-day moving average is $185.04 and its two-hundred day moving average is $188.43.

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

Wall Street Analyst Weigh In

ONTO has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Stifel Nicolaus decreased their price objective 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. Benchmark reissued a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Needham & Company LLC reissued a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $246.88.

Insider Activity at Onto Innovation

In related news, CEO Michael P. Plisinski sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the transaction, the chief executive officer now owns 215,492 shares of the company’s stock, valued at approximately $43,139,343.48. This represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Srinivas Vedula sold 827 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 15,223 shares in the company, valued at $3,120,715. The trade was a 5.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 85,827 shares of company stock valued at $18,182,185. Company insiders own 0.72% of the company’s stock.

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.