AlphaQuest LLC Buys 650 Shares of Onto Innovation Inc. (NYSE:ONTO)

AlphaQuest LLC increased its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 28.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,963 shares of the semiconductor company’s stock after acquiring an additional 650 shares during the period. AlphaQuest LLC’s holdings in Onto Innovation were worth $494,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of ONTO. JPMorgan Chase & Co. increased its position in Onto Innovation by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after buying an additional 228,800 shares during the last quarter. State Street Corp increased its position in 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 during the last quarter. Franklin Resources Inc. increased its position in Onto Innovation by 4.5% during the third quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company’s stock worth $288,320,000 after buying an additional 54,868 shares during the last quarter. Geneva Capital Management LLC increased its position in 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 worth $168,452,000 after buying an additional 71,050 shares during the last quarter. Finally, Geode Capital Management LLC increased 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 worth $173,401,000 after buying an additional 13,405 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Insiders Place Their Bets

In other Onto Innovation news, CEO Michael P. Plisinski sold 35,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total transaction 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 $32,986,341.48. This represents a 18.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Srinivas Vedula sold 827 shares of the company’s stock in a transaction 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,827 shares of company stock worth $18,182,185 over the last three months. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

ONTO has been the topic of several research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. 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. Oppenheimer decreased their target price on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Finally, Stifel Nicolaus decreased their target price on Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Onto Innovation has an average rating of “Moderate Buy” and an average price target of $246.88.

Onto Innovation Price Performance

Shares of NYSE:ONTO opened at $134.00 on Thursday. The company has a market capitalization of $6.60 billion, a P/E ratio of 33.01, a P/E/G 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’s 50 day simple moving average is $178.96 and its 200 day simple moving average is $184.01.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 anticipate that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

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.