Trust Point Inc. Acquires 1,316 Shares of Onto Innovation Inc. (NYSE:ONTO)

Trust Point Inc. boosted its holdings in Onto Innovation Inc. (NYSE:ONTO) by 34.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 5,114 shares of the semiconductor company’s stock after purchasing an additional 1,316 shares during the quarter. Trust Point Inc.’s holdings in Onto Innovation were worth $852,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP lifted its position in shares of Onto Innovation by 232.4% during the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after buying an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Onto Innovation by 675.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after buying an additional 108 shares during the last quarter. Versant Capital Management Inc raised its position in Onto Innovation by 532.4% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 197 shares during the period. Berbice Capital Management LLC bought a new stake in Onto Innovation in the fourth quarter worth about $50,000. Finally, Eastern Bank bought a new position in shares of Onto Innovation during the 3rd quarter valued at approximately $65,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ONTO shares. Oppenheimer reiterated an “outperform” rating and issued a $275.00 price objective on shares of Onto Innovation in a research note on Tuesday, December 17th. Benchmark reiterated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research note on Friday, November 1st. Needham & Company LLC lowered their price objective on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. 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. Finally, Cantor Fitzgerald began coverage on shares of Onto Innovation in a research report on Monday, January 13th. They issued an “overweight” rating and a $250.00 price target on the stock. 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 a consensus rating of “Moderate Buy” and a consensus price target of $253.75.

Onto Innovation Trading Up 0.9 %

Shares of Onto Innovation stock opened at $200.94 on Wednesday. The company’s 50-day moving average price is $182.80 and its 200-day moving average price is $190.07. Onto Innovation Inc. has a 12-month low of $145.15 and a 12-month high of $238.93. The company has a market cap of $9.92 billion, a price-to-earnings ratio of 54.45, a PEG ratio of 1.06 and a beta of 1.31.

Insiders Place Their Bets

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction that occurred 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 sale, the senior vice president now directly owns 15,223 shares in the company, valued at $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael P. Plisinski sold 35,000 shares of the 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 transaction, the chief executive officer now directly owns 150,492 shares in the company, valued at $32,986,341.48. The trade was a 18.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock worth $18,182,185 in the last three months. 0.72% of the stock is currently owned by corporate insiders.

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.