Kestra Investment Management LLC Purchases New Holdings in Onto Innovation Inc. (NYSE:ONTO)

Kestra Investment Management LLC acquired a new position in shares of Onto Innovation Inc. (NYSE:ONTO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 154 shares of the semiconductor company’s stock, valued at approximately $26,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ONTO. Peregrine Capital Management LLC boosted its stake in shares of Onto Innovation by 1.7% during the 4th quarter. Peregrine Capital Management LLC now owns 41,044 shares of the semiconductor company’s stock valued at $6,841,000 after buying an additional 685 shares during the period. Empower Advisory Group LLC acquired a new stake in Onto Innovation during the fourth quarter valued at $907,000. Truist Financial Corp grew its stake in Onto Innovation by 35.6% in the fourth quarter. Truist Financial Corp now owns 1,605 shares of the semiconductor company’s stock valued at $268,000 after purchasing an additional 421 shares in the last quarter. CIBC Asset Management Inc increased its position in Onto Innovation by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company’s stock worth $256,000 after purchasing an additional 81 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Onto Innovation by 1.0% during the 4th quarter. Rhumbline Advisers now owns 138,314 shares of the semiconductor company’s stock worth $23,053,000 after purchasing an additional 1,388 shares in the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Onto Innovation

In other Onto Innovation news, CEO Michael P. Plisinski sold 30,000 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $211.24, for a total value of $6,337,200.00. Following the sale, the chief executive officer now owns 185,492 shares of the company’s stock, valued at $39,183,330.08. The trade was a 13.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Srinivas Vedula sold 827 shares of the 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 approximately $3,120,715. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,827 shares of company stock worth $18,182,185. 0.72% of the stock is currently owned by company insiders.

Onto Innovation Stock Down 4.7 %

Shares of NYSE:ONTO opened at $159.23 on Friday. The business has a 50 day moving average price of $186.90 and a 200 day moving average price of $189.41. The company has a market cap of $7.86 billion, a price-to-earnings ratio of 39.22, a PEG ratio of 0.89 and a beta of 1.31. Onto Innovation Inc. has a twelve month low of $145.15 and a twelve month high of $238.93.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data 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 net margin of 20.43% and a return on equity of 14.24%. Analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Benchmark reissued a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Oppenheimer decreased their target price on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a research report on Thursday. Jefferies Financial Group cut their price target on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Stifel Nicolaus decreased their price objective on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a report on Friday, February 7th. Finally, StockNews.com downgraded shares of Onto Innovation from a “hold” rating to a “sell” rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $246.88.

Onto Innovation 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.