Rhumbline Advisers Acquires 1,388 Shares of Onto Innovation Inc. (NYSE:ONTO)

Rhumbline Advisers raised its position in Onto Innovation Inc. (NYSE:ONTO) by 1.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 138,314 shares of the semiconductor company’s stock after purchasing an additional 1,388 shares during the quarter. Rhumbline Advisers’ holdings in Onto Innovation were worth $23,053,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after purchasing an additional 228,800 shares during the period. State Street Corp boosted its stake in shares of Onto Innovation by 2.8% during the 3rd quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company’s stock worth $305,107,000 after acquiring an additional 39,367 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Onto Innovation by 4.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company’s stock worth $288,320,000 after acquiring an additional 54,868 shares during the last quarter. Congress Asset Management Co. boosted its stake in shares of Onto Innovation by 38.1% during the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after acquiring an additional 295,869 shares during the last quarter. Finally, Geneva Capital Management LLC boosted its stake in shares of Onto Innovation by 2.6% during the 3rd quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company’s stock worth $195,032,000 after acquiring an additional 23,628 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insider Transactions at Onto Innovation

In related news, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction dated 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 directly owns 15,223 shares of the company’s stock, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the transaction, the chief executive officer now directly owns 150,492 shares of the company’s stock, valued at approximately $32,986,341.48. This represents a 18.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,827 shares of company stock worth $18,182,185 in the last three months. Insiders own 0.72% of the company’s stock.

Onto Innovation Stock Performance

Shares of NYSE ONTO opened at $167.29 on Friday. The company has a market cap of $8.26 billion, a P/E ratio of 41.21, a P/E/G ratio of 0.91 and a beta of 1.31. The firm’s fifty day moving average is $187.05 and its two-hundred day moving average is $189.61. Onto Innovation Inc. has a 52-week low of $145.15 and a 52-week high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share 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, analysts forecast that Onto Innovation Inc. will post 6.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Oppenheimer dropped their price target on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a research note on Thursday. Jefferies Financial Group decreased their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Stifel Nicolaus decreased their price objective on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. 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. Finally, StockNews.com downgraded shares of Onto Innovation from a “hold” rating to a “sell” rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $246.88.

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.