Assenagon Asset Management S.A. Boosts Holdings in Onto Innovation Inc. (NYSE:ONTO)

Assenagon Asset Management S.A. grew its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 8.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,346 shares of the semiconductor company’s stock after purchasing an additional 12,798 shares during the period. Assenagon Asset Management S.A.’s holdings in Onto Innovation were worth $26,558,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new position in Onto Innovation during the second quarter worth about $397,000. Envestnet Asset Management Inc. boosted its position in shares of Onto Innovation by 15.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 68,943 shares of the semiconductor company’s stock valued at $15,137,000 after acquiring an additional 9,319 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Onto Innovation during the second quarter worth about $5,878,000. Mercer Global Advisors Inc. ADV increased its position in shares of Onto Innovation by 124.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 5,649 shares of the semiconductor company’s stock worth $1,240,000 after purchasing an additional 3,136 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Onto Innovation by 7.5% in the second quarter. Hsbc Holdings PLC now owns 3,584 shares of the semiconductor company’s stock worth $791,000 after purchasing an additional 250 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Trading Up 4.4 %

Shares of NYSE:ONTO opened at $213.65 on Friday. The stock has a market capitalization of $10.55 billion, a P/E ratio of 57.90, a price-to-earnings-growth ratio of 0.98 and a beta of 1.29. The stock’s 50-day moving average price is $172.50 and its 200-day moving average price is $192.05. Onto Innovation Inc. has a 12-month low of $141.79 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.03. The business had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. Onto Innovation’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same period last year, the company earned $0.96 EPS. As a group, research analysts predict that Onto Innovation Inc. will post 5.22 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on ONTO. Cantor Fitzgerald started coverage on shares of Onto Innovation in a research note on Monday. They issued an “overweight” rating and a $250.00 price target for the company. Jefferies Financial Group cut their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Benchmark restated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, November 1st. Oppenheimer reiterated an “outperform” rating and issued a $275.00 price objective on shares of Onto Innovation in a report on Tuesday, December 17th. Finally, Needham & Company LLC decreased their price objective on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Onto Innovation has a consensus rating of “Moderate Buy” and an average price target of $253.75.

Insider Transactions at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the 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 completion of the sale, the senior vice president now owns 15,223 shares in the company, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael P. Plisinski sold 20,000 shares of Onto Innovation stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total value of $4,003,800.00. Following the completion of the sale, the chief executive officer now owns 215,492 shares in the company, 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. 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.