Goldman Sachs Group Inc. Has $44.48 Million Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Goldman Sachs Group Inc. raised its holdings in Onto Innovation Inc. (NYSE:ONTO) by 0.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 290,938 shares of the semiconductor company’s stock after buying an additional 508 shares during the quarter. Goldman Sachs Group Inc. owned 0.59% of Onto Innovation worth $44,484,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its holdings in Onto Innovation by 198.3% in the 4th quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 115 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in Onto Innovation in the 4th quarter valued at approximately $28,000. GAMMA Investing LLC acquired a new stake in shares of Onto Innovation during the 4th quarter worth approximately $33,000. Parallel Advisors LLC grew its holdings in shares of Onto Innovation by 43.0% during the 4th quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company’s stock worth $56,000 after purchasing an additional 110 shares in the last quarter. Finally, Operose Advisors LLC acquired a new stake in shares of Onto Innovation during the 3rd quarter worth approximately $49,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ONTO. Evercore ISI lifted their price objective on Onto Innovation from $235.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 10th. Needham & Company LLC reissued a “hold” rating on shares of Onto Innovation in a report on Friday, May 10th. B. Riley lifted their price objective on Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday. Benchmark raised their target price on Onto Innovation from $180.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Finally, Jefferies Financial Group began coverage on Onto Innovation in a research report on Monday, May 13th. They set a “buy” rating and a $265.00 target price for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $248.00.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, CFO Mark Slicer sold 519 shares of Onto Innovation stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $221.21, for a total value of $114,807.99. Following the completion of the transaction, the chief financial officer now owns 12,552 shares in the company, valued at approximately $2,776,627.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Mark Slicer sold 519 shares of Onto Innovation stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $221.21, for a total value of $114,807.99. Following the completion of the sale, the chief financial officer now directly owns 12,552 shares of the company’s stock, valued at approximately $2,776,627.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Srinivas Vedula sold 1,486 shares of Onto Innovation stock in a transaction on Monday, June 10th. The shares were sold at an average price of $213.40, for a total value of $317,112.40. Following the completion of the sale, the senior vice president now directly owns 17,433 shares of the company’s stock, valued at $3,720,202.20. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Onto Innovation Stock Performance

Shares of ONTO opened at $221.56 on Friday. The stock has a fifty day moving average price of $209.90 and a two-hundred day moving average price of $181.38. Onto Innovation Inc. has a 52-week low of $103.93 and a 52-week high of $238.13. The company has a market cap of $10.92 billion, a price-to-earnings ratio of 78.85 and a beta of 1.43.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.08. Onto Innovation had a return on equity of 11.48% and a net margin of 16.43%. The firm had revenue of $228.80 million during the quarter, compared to the consensus estimate of $222.60 million. During the same quarter in the previous year, the company posted $0.92 EPS. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, research analysts predict that Onto Innovation Inc. will post 5.05 EPS for the current fiscal year.

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.