Pacer Advisors Inc. Buys 10,540 Shares of Onto Innovation Inc. (NYSE:ONTO)

Pacer Advisors Inc. boosted its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 2,306.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,997 shares of the semiconductor company's stock after acquiring an additional 10,540 shares during the quarter. Pacer Advisors Inc.'s holdings in Onto Innovation were worth $1,681,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ONTO. Integrated Wealth Concepts LLC raised its holdings in shares of Onto Innovation by 3.4% during the third quarter. Integrated Wealth Concepts LLC now owns 2,554 shares of the semiconductor company's stock valued at $326,000 after purchasing an additional 84 shares during the period. Huntington National Bank boosted its stake in Onto Innovation by 70.3% in the third quarter. Huntington National Bank now owns 247 shares of the semiconductor company's stock valued at $31,000 after acquiring an additional 102 shares during the last quarter. Stifel Financial Corp boosted its stake in Onto Innovation by 0.7% in the second quarter. Stifel Financial Corp now owns 16,822 shares of the semiconductor company's stock valued at $1,959,000 after acquiring an additional 115 shares during the last quarter. Juncture Wealth Strategies LLC lifted its stake in shares of Onto Innovation by 1.4% during the 4th quarter. Juncture Wealth Strategies LLC now owns 9,494 shares of the semiconductor company's stock valued at $1,452,000 after buying an additional 132 shares in the last quarter. Finally, IMA Wealth Inc. lifted its stake in shares of Onto Innovation by 0.5% during the 2nd quarter. IMA Wealth Inc. now owns 27,868 shares of the semiconductor company's stock valued at $3,246,000 after buying an additional 149 shares in the last quarter. Institutional investors own 98.35% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on ONTO. Stifel Nicolaus increased their target price on shares of Onto Innovation from $188.00 to $215.00 and gave the stock a "buy" rating in a research note on Monday, March 25th. B. Riley boosted their price objective on shares of Onto Innovation from $195.00 to $205.00 and gave the company a "buy" rating in a research report on Friday, February 9th. Benchmark lifted their target price on shares of Onto Innovation from $145.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, February 9th. Finally, StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Monday, February 12th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Onto Innovation has an average rating of "Moderate Buy" and a consensus target price of $180.75.

Onto Innovation Stock Performance

Shares of ONTO traded up $0.59 during mid-day trading on Friday, reaching $181.08. The stock had a trading volume of 373,860 shares, compared to its average volume of 368,807. The firm has a market cap of $8.90 billion, a price-to-earnings ratio of 73.61 and a beta of 1.41. Onto Innovation Inc. has a 12 month low of $76.40 and a 12 month high of $199.72. The business has a fifty day moving average of $175.75 and a 200 day moving average of $149.37.

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

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, VP Yoon Ah Oh sold 2,685 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $173.96, for a total transaction of $467,082.60. Following the completion of the transaction, the vice president now owns 16,598 shares in the company, valued at $2,887,388.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Yoon Ah Oh sold 2,685 shares of the firm's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $173.96, for a total value of $467,082.60. Following the transaction, the vice president now owns 16,598 shares of the company's stock, valued at approximately $2,887,388.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David Brian Miller sold 2,800 shares of the firm's stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total transaction of $477,372.00. Following the completion of the transaction, the director now directly owns 9,008 shares in the company, valued at approximately $1,535,773.92. The disclosure for this sale can be found here. Insiders sold 47,170 shares of company stock worth $8,266,955 over the last 90 days. 0.81% of the stock is owned by insiders.

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.