Onto Innovation Inc. (NYSE:ONTO) Shares Acquired by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. increased its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 6.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,231 shares of the semiconductor company’s stock after purchasing an additional 660 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Onto Innovation were worth $1,705,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Onto Innovation in the 3rd quarter valued at about $478,000. Victory Capital Management Inc. lifted its holdings in Onto Innovation by 10.4% in the third quarter. Victory Capital Management Inc. now owns 119,134 shares of the semiconductor company’s stock worth $24,727,000 after acquiring an additional 11,228 shares during the last quarter. KBC Group NV boosted its stake in Onto Innovation by 10.3% in the third quarter. KBC Group NV now owns 1,292 shares of the semiconductor company’s stock valued at $268,000 after acquiring an additional 121 shares during the period. Huntington National Bank grew its holdings in shares of Onto Innovation by 26.3% during the third quarter. Huntington National Bank now owns 423 shares of the semiconductor company’s stock valued at $88,000 after purchasing an additional 88 shares during the last quarter. Finally, OneDigital Investment Advisors LLC raised its position in shares of Onto Innovation by 32.6% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,041 shares of the semiconductor company’s stock worth $424,000 after purchasing an additional 502 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Price Performance

ONTO opened at $138.05 on Tuesday. Onto Innovation Inc. has a 1-year low of $121.47 and a 1-year high of $238.93. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of 34.00, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. The business has a 50 day moving average price of $176.31 and a two-hundred day moving average price of $182.32.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share 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%. Equities analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ONTO. Benchmark restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Oppenheimer decreased their target price on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Finally, Stifel Nicolaus cut their price target on Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, February 7th. One equities 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, the company has an average rating of “Moderate Buy” and an average price target of $246.88.

Insider Transactions at Onto Innovation

In related news, CEO Michael P. Plisinski sold 20,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 215,492 shares in the company, valued at approximately $43,139,343.48. This trade represents a 8.49 % decrease in their ownership of the stock. 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 company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the transaction, the senior vice president now directly owns 15,223 shares in the company, valued at $3,120,715. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock valued at $18,182,185 in the last quarter. Insiders own 0.72% of the company’s stock.

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.