Onto Innovation Inc. (NYSE:ONTO) Shares Bought by Zions Bancorporation N.A.

Zions Bancorporation N.A. raised its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 35.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,760 shares of the semiconductor company’s stock after purchasing an additional 5,430 shares during the quarter. Zions Bancorporation N.A.’s holdings in Onto Innovation were worth $3,460,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EFG Asset Management North America Corp. increased its position in shares of Onto Innovation by 99.2% in the 4th quarter. EFG Asset Management North America Corp. now owns 18,970 shares of the semiconductor company’s stock valued at $3,160,000 after acquiring an additional 9,448 shares during the period. Segall Bryant & Hamill LLC grew its stake in Onto Innovation by 4.6% during the 4th quarter. Segall Bryant & Hamill LLC now owns 113,664 shares of the semiconductor company’s stock valued at $18,944,000 after purchasing an additional 4,988 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of Onto Innovation by 12.0% in the fourth quarter. Prudential Financial Inc. now owns 330,584 shares of the semiconductor company’s stock valued at $55,098,000 after purchasing an additional 35,307 shares during the period. Vanguard Group Inc. raised its stake in shares of Onto Innovation by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company’s stock worth $861,040,000 after purchasing an additional 76,233 shares during the last quarter. Finally, Bridge City Capital LLC lifted its holdings in shares of Onto Innovation by 1.0% during the fourth quarter. Bridge City Capital LLC now owns 8,165 shares of the semiconductor company’s stock worth $1,361,000 after purchasing an additional 78 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insider Buying and Selling

In other news, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction that occurred 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 directly 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael P. Plisinski sold 20,000 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total value of $4,003,800.00. Following the completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 85,827 shares of company stock valued at $18,182,185. 0.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ONTO. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Stifel Nicolaus reduced their target price 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. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 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. Finally, Benchmark reissued a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $246.88.

Onto Innovation Stock Up 3.9 %

NYSE:ONTO opened at $140.87 on Tuesday. Onto Innovation Inc. has a 52 week low of $121.47 and a 52 week high of $238.93. The stock’s 50-day moving average price is $170.88 and its 200-day moving average price is $180.19. The stock has a market capitalization of $6.94 billion, a PE ratio of 34.70, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. Sell-side analysts expect that Onto Innovation Inc. will post 6.26 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.