Katamaran Capital LLP Makes New $2.41 Million Investment in Onto Innovation Inc. (NYSE:ONTO)

Katamaran Capital LLP acquired a new stake in Onto Innovation Inc. (NYSE:ONTO) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 14,440 shares of the semiconductor company’s stock, valued at approximately $2,407,000. Onto Innovation accounts for about 3.1% of Katamaran Capital LLP’s investment portfolio, making the stock its 14th largest holding.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its position in shares of Onto Innovation by 1.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 16,083 shares of the semiconductor company’s stock worth $2,680,000 after purchasing an additional 225 shares during the period. Geode Capital Management LLC raised its position in shares of Onto Innovation by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company’s stock valued at $173,401,000 after buying an additional 13,405 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Onto Innovation by 12.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock valued at $416,863,000 after buying an additional 228,800 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Onto Innovation by 72.0% during the 3rd quarter. HighTower Advisors LLC now owns 10,184 shares of the semiconductor company’s stock worth $2,095,000 after acquiring an additional 4,263 shares in the last quarter. Finally, Barclays PLC increased its stake in Onto Innovation by 1,296.7% in the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock valued at $45,079,000 after acquiring an additional 201,640 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

ONTO has been the subject of several recent analyst reports. Stifel Nicolaus set a $200.00 target price on Onto Innovation and gave the stock a “buy” rating in a research note on Friday, March 28th. Needham & Company LLC restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. StockNews.com upgraded Onto Innovation from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Oppenheimer dropped their target price on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Finally, Jefferies Financial Group decreased their price target on shares of Onto Innovation from $245.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, March 28th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $231.88.

Onto Innovation Price Performance

Shares of NYSE ONTO opened at $104.63 on Friday. Onto Innovation Inc. has a 1 year low of $98.21 and a 1 year high of $238.93. The firm has a market cap of $5.16 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. The company has a 50 day simple moving average of $154.44 and a 200 day simple moving average of $176.24.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, topping 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%. As a group, research analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In related news, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation stock in a transaction 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 completion of the transaction, the chief executive officer now 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 Securities & Exchange Commission, which is available at the SEC website. Also, SVP Srinivas Vedula sold 827 shares of the business’s 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 completion of the transaction, the senior vice president now owns 15,223 shares in the company, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 85,827 shares of company stock worth $18,182,185. Insiders own 0.72% of the company’s stock.

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.