Vanguard Group Inc. Increases Stake in Onto Innovation Inc. (NYSE:ONTO)

Vanguard Group Inc. grew its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 0.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,728,291 shares of the semiconductor company's stock after purchasing an additional 27,695 shares during the period. Vanguard Group Inc. owned about 11.67% of Onto Innovation worth $730,472,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Huntington National Bank lifted its position in Onto Innovation by 70.3% in the 3rd quarter. Huntington National Bank now owns 247 shares of the semiconductor company's stock worth $31,000 after buying an additional 102 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Onto Innovation by 51.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 516 shares of the semiconductor company's stock worth $33,000 after buying an additional 175 shares during the last quarter. Operose Advisors LLC bought a new stake in Onto Innovation in the 3rd quarter worth approximately $49,000. Point72 Hong Kong Ltd bought a new stake in Onto Innovation in the 2nd quarter worth approximately $52,000. Finally, Pinebridge Investments L.P. bought a new stake in Onto Innovation in the 2nd quarter worth approximately $78,000. Institutional investors own 94.78% of the company's stock.

Onto Innovation Stock Performance

Shares of Onto Innovation stock traded up $0.43 during midday trading on Friday, reaching $183.44. 251,508 shares of the company's stock traded hands, compared to its average volume of 430,977. The company has a market cap of $9.01 billion, a PE ratio of 74.57 and a beta of 1.41. The stock has a 50 day moving average of $172.73 and a 200-day moving average of $147.42. Onto Innovation Inc. has a 12 month low of $76.40 and a 12 month high of $199.72.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.07. The company had revenue of $219.00 million for the quarter, compared to analysts' expectations of $209.06 million. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The firm's revenue for the quarter was down 13.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.57 earnings per share. On average, equities analysts anticipate that Onto Innovation Inc. will post 4.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. StockNews.com upgraded Onto Innovation from a "sell" rating to a "hold" rating in a research report on Monday, February 12th. Benchmark boosted their price objective on Onto Innovation from $145.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, February 9th. Finally, B. Riley boosted their price objective on Onto Innovation from $195.00 to $205.00 and gave the company a "buy" rating in a research report on Friday, February 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $164.50.

Insider Transactions at Onto Innovation

In other news, CEO Michael P. Plisinski sold 40,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total value of $7,019,200.00. Following the sale, the chief executive officer now directly owns 235,492 shares of the company's stock, valued at $41,324,136.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Yoon Ah Oh sold 1,685 shares of the company's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $180.00, for a total transaction of $303,300.00. Following the transaction, the vice president now directly owns 14,913 shares of the company's stock, valued at $2,684,340. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael P. Plisinski sold 40,000 shares of the company's stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total value of $7,019,200.00. Following the transaction, the chief executive officer now directly owns 235,492 shares in the company, valued at $41,324,136.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,170 shares of company stock valued at $8,266,955. Insiders own 0.81% of the company's stock.

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.