Pacer Advisors Inc. Acquires 11,086 Shares of Onto Innovation Inc. (NYSE:ONTO)

Pacer Advisors Inc. grew its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 104.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,672 shares of the semiconductor company’s stock after buying an additional 11,086 shares during the period. Pacer Advisors Inc.’s holdings in Onto Innovation were worth $3,612,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Quarry LP boosted its stake in Onto Innovation by 232.4% during the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Onto Innovation by 675.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 108 shares during the period. Versant Capital Management Inc boosted its position in shares of Onto Innovation by 532.4% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 197 shares in the last quarter. Berbice Capital Management LLC acquired a new stake in shares of Onto Innovation in the 4th quarter valued at about $50,000. Finally, Eastern Bank bought a new stake in Onto Innovation in the 3rd quarter valued at about $65,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Insider Buying and Selling

In other news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the sale, the senior vice president now directly owns 15,223 shares of the company’s stock, valued at approximately $3,120,715. This represents a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael P. Plisinski sold 35,000 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 85,827 shares of company stock valued at $18,182,185. Corporate insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

ONTO has been the topic of a number of research reports. Benchmark reaffirmed a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday, November 1st. Jefferies Financial Group lowered their price objective on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Cantor Fitzgerald assumed coverage on Onto Innovation in a report on Monday, January 13th. They set an “overweight” rating and a $250.00 price target for the company. Oppenheimer restated an “outperform” rating and set a $275.00 price objective on shares of Onto Innovation in a research note on Tuesday, December 17th. Finally, Needham & Company LLC reduced their target price on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st. One investment 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $253.75.

Onto Innovation Price Performance

NYSE:ONTO opened at $205.25 on Friday. Onto Innovation Inc. has a 1 year low of $145.15 and a 1 year high of $238.93. The business has a fifty day simple moving average of $180.57 and a two-hundred day simple moving average of $190.62. The company has a market capitalization of $10.14 billion, a P/E ratio of 55.62, a P/E/G ratio of 1.16 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last posted its 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 firm had revenue of $252.20 million for the quarter, compared to the consensus estimate of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The business’s quarterly revenue was up 21.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.96 earnings per share. As a group, analysts anticipate that Onto Innovation Inc. will post 5.22 earnings per share for the current year.

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.