VELA Investment Management LLC Purchases 1,517 Shares of Onto Innovation Inc. (NYSE:ONTO)

VELA Investment Management LLC increased its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 48.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,645 shares of the semiconductor company’s stock after acquiring an additional 1,517 shares during the period. VELA Investment Management LLC’s holdings in Onto Innovation were worth $774,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cerity Partners LLC increased its holdings in Onto Innovation by 287.0% during the 3rd quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock worth $968,000 after acquiring an additional 3,458 shares during the period. Geode Capital Management LLC increased its holdings in Onto Innovation by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company’s stock worth $173,401,000 after acquiring an additional 13,405 shares during the period. JPMorgan Chase & Co. increased its holdings in Onto Innovation by 12.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after acquiring an additional 228,800 shares during the period. Natixis Advisors LLC increased its holdings in Onto Innovation by 3.4% during the 3rd quarter. Natixis Advisors LLC now owns 253,600 shares of the semiconductor company’s stock worth $52,637,000 after acquiring an additional 8,456 shares during the period. Finally, Geneva Capital Management LLC grew its stake in Onto Innovation by 2.6% in the 3rd quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company’s stock worth $195,032,000 after buying an additional 23,628 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Performance

Shares of Onto Innovation stock opened at $145.43 on Friday. Onto Innovation Inc. has a 52-week low of $145.15 and a 52-week high of $238.93. The stock has a market capitalization of $7.18 billion, a price-to-earnings ratio of 35.82, a price-to-earnings-growth ratio of 0.89 and a beta of 1.31. The company has a fifty day moving average of $185.47 and a 200-day moving average of $188.76.

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, beating analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. On average, equities research analysts forecast that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, 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 transaction of $4,003,800.00. Following the completion of the sale, the chief executive officer now owns 215,492 shares of the company’s stock, valued at $43,139,343.48. This represents a 8.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 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 position. The disclosure for this sale can be found here. Insiders sold 85,827 shares of company stock valued at $18,182,185 in the last quarter. Company insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. 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. Finally, Oppenheimer cut their price target 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. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Onto Innovation presently has an average rating of “Moderate Buy” and an average target price 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.