Prudential Financial Inc. Grows Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Prudential Financial Inc. grew its holdings in Onto Innovation Inc. (NYSE:ONTO) by 12.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 330,584 shares of the semiconductor company’s stock after buying an additional 35,307 shares during the period. Prudential Financial Inc. owned approximately 0.67% of Onto Innovation worth $55,098,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in 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 acquiring an additional 76,233 shares in the last quarter. Bridge City Capital LLC boosted its holdings in shares of Onto Innovation by 1.0% in the 4th 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. LPL Financial LLC increased its position in shares of Onto Innovation by 35.3% during the 4th quarter. LPL Financial LLC now owns 35,672 shares of the semiconductor company’s stock valued at $5,945,000 after purchasing an additional 9,310 shares during the last quarter. Fox Run Management L.L.C. raised its holdings in Onto Innovation by 108.3% during the 4th quarter. Fox Run Management L.L.C. now owns 8,766 shares of the semiconductor company’s stock valued at $1,461,000 after buying an additional 4,558 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in Onto Innovation during the 4th quarter valued at $1,671,000. 98.35% of the stock is currently owned by institutional investors.

Insider Activity at Onto Innovation

In related news, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the transaction, the chief executive officer now directly owns 150,492 shares of the company’s stock, valued at $32,986,341.48. This trade represents a 18.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 approximately $3,120,715. This represents a 5.15 % decrease in their position. 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. 0.72% of the stock is owned by corporate insiders.

Onto Innovation Stock Performance

Onto Innovation stock opened at $140.87 on Tuesday. The company has a market capitalization of $6.94 billion, a PE ratio of 34.70, a P/E/G ratio of 0.89 and a beta of 1.29. The company has a 50 day moving average price of $170.88 and a 200-day moving average price of $180.19. Onto Innovation Inc. has a fifty-two week low of $121.47 and a fifty-two week high of $238.93.

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

Wall Street Analysts Forecast Growth

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

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.