Onto Innovation Inc. (NYSE:ONTO) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board grew its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 215.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,000 shares of the semiconductor company's stock after purchasing an additional 44,400 shares during the period. Canada Pension Plan Investment Board owned about 0.13% of Onto Innovation worth $10,834,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ONTO. Commonwealth Equity Services LLC lifted its holdings in Onto Innovation by 1.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 16,083 shares of the semiconductor company's stock valued at $2,680,000 after buying an additional 225 shares in the last quarter. JPMorgan Chase & Co. grew its stake 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 in the last quarter. Barclays PLC lifted its holdings in shares of Onto Innovation by 1,296.7% in the 3rd quarter. Barclays PLC now owns 217,190 shares of the semiconductor company's stock worth $45,079,000 after buying an additional 201,640 shares during the period. Fort Washington Investment Advisors Inc. OH grew its position in shares of Onto Innovation by 40.2% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 140,455 shares of the semiconductor company's stock worth $23,410,000 after buying an additional 40,290 shares in the last quarter. Finally, Argent Capital Management LLC purchased a new position in shares of Onto Innovation during the fourth quarter valued at $437,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Price Performance

Onto Innovation stock traded down $0.21 during mid-day trading on Friday, reaching $125.50. 550,585 shares of the company traded hands, compared to its average volume of 798,714. Onto Innovation Inc. has a fifty-two week low of $98.21 and a fifty-two week high of $238.93. The firm's fifty day moving average is $130.48 and its two-hundred day moving average is $166.30. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of 30.91, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. As a group, equities research analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. StockNews.com upgraded shares of Onto Innovation from a "sell" rating to a "hold" rating in a report on Thursday, February 27th. Benchmark reissued a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Stifel Nicolaus dropped their target price on Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Cantor Fitzgerald restated an "overweight" rating and set a $250.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Finally, Oppenheimer cut their target price on Onto Innovation from $240.00 to $150.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Onto Innovation presently has an average rating of "Moderate Buy" and an average target price of $218.13.

Onto Innovation Company 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.