Wellington Management Group LLP Purchases 96,925 Shares of Onto Innovation Inc. (NYSE:ONTO)

Wellington Management Group LLP boosted its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 13.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 844,623 shares of the semiconductor company’s stock after acquiring an additional 96,925 shares during the quarter. Wellington Management Group LLP owned 1.72% of Onto Innovation worth $129,143,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ONTO. Vanguard Group Inc. raised its position in shares of Onto Innovation by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,728,291 shares of the semiconductor company’s stock worth $730,472,000 after acquiring an additional 27,695 shares in the last quarter. Retirement Systems of Alabama bought a new position in shares of Onto Innovation in the 4th quarter worth $9,399,000. Pacer Advisors Inc. raised its position in shares of Onto Innovation by 2,306.3% in the 4th quarter. Pacer Advisors Inc. now owns 10,997 shares of the semiconductor company’s stock worth $1,681,000 after acquiring an additional 10,540 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Onto Innovation by 854.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 296,049 shares of the semiconductor company’s stock worth $45,266,000 after acquiring an additional 265,042 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its position in shares of Onto Innovation by 36.8% in the 4th quarter. Eagle Asset Management Inc. now owns 295,824 shares of the semiconductor company’s stock worth $45,231,000 after acquiring an additional 79,530 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ONTO. Evercore ISI upped their target price on Onto Innovation from $235.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Onto Innovation in a research report on Friday, May 10th. Stifel Nicolaus upped their target price on Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, March 25th. 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 on the stock. Finally, B. Riley upped their target price on Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $248.00.

Onto Innovation Stock Performance

Onto Innovation stock opened at $221.56 on Friday. The business’s 50-day simple moving average is $209.90 and its two-hundred day simple moving average is $181.38. The company has a market cap of $10.92 billion, a PE ratio of 78.85 and a beta of 1.43. Onto Innovation Inc. has a fifty-two week low of $103.93 and a fifty-two week high of $238.13.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share 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 business had revenue of $228.80 million for the quarter, compared to the consensus estimate of $222.60 million. During the same quarter in the previous year, the business earned $0.92 EPS. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, analysts predict that Onto Innovation Inc. will post 5.05 EPS for the current fiscal year.

Insider Transactions at Onto Innovation

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

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.