Trust Point Inc. Makes New Investment in Onto Innovation Inc. (NYSE:ONTO)

Trust Point Inc. acquired a new stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,973 shares of the semiconductor company's stock, valued at approximately $913,000.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Onto Innovation by 0.5% in the third quarter. Vanguard Group Inc. now owns 5,728,291 shares of the semiconductor company's stock worth $730,472,000 after purchasing an additional 27,695 shares during the last quarter. Pacer Advisors Inc. raised its position in Onto Innovation by 2,306.3% during the 4th quarter. Pacer Advisors Inc. now owns 10,997 shares of the semiconductor company's stock worth $1,681,000 after buying an additional 10,540 shares during the last quarter. Value Aligned Research Advisors LLC raised its position in Onto Innovation by 38.2% during the 3rd quarter. Value Aligned Research Advisors LLC now owns 16,378 shares of the semiconductor company's stock worth $2,089,000 after buying an additional 4,528 shares during the last quarter. Swiss National Bank raised its position in Onto Innovation by 1.1% during the 3rd quarter. Swiss National Bank now owns 107,541 shares of the semiconductor company's stock worth $13,714,000 after buying an additional 1,200 shares during the last quarter. Finally, Mirabella Financial Services LLP purchased a new position in Onto Innovation during the 3rd quarter worth approximately $2,026,000. Institutional investors own 98.35% of the company's stock.

Insider Buying and Selling

In related news, CEO Michael P. Plisinski sold 40,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the sale, the chief executive officer now owns 235,492 shares in the company, valued at $41,324,136.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director David Brian Miller sold 2,800 shares of the firm's stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total value of $477,372.00. Following the transaction, the director now owns 9,008 shares of the company's stock, valued at approximately $1,535,773.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael P. Plisinski sold 40,000 shares of Onto Innovation stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the sale, the chief executive officer now directly owns 235,492 shares in the company, valued at approximately $41,324,136.16. The disclosure for this sale can be found here. Insiders sold 47,170 shares of company stock valued at $8,266,955 over the last ninety days. Corporate insiders own 0.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ONTO. Stifel Nicolaus upped their target price on Onto Innovation from $188.00 to $215.00 and gave the stock a "buy" rating in a research note on Monday, March 25th. StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Monday, February 12th. B. Riley upped their price target on shares of Onto Innovation from $195.00 to $205.00 and gave the stock a "buy" rating in a research report on Friday, February 9th. Finally, Benchmark upped their price target on shares of Onto Innovation from $145.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, February 9th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $180.75.

Onto Innovation Stock Performance

Shares of Onto Innovation stock traded down $5.32 during trading hours on Thursday, reaching $184.40. 597,501 shares of the company were exchanged, compared to its average volume of 423,282. The stock's fifty day moving average is $176.95 and its 200 day moving average is $150.61. The firm has a market cap of $9.06 billion, a PE ratio of 75.05 and a beta of 1.40. Onto Innovation Inc. has a 1 year low of $76.40 and a 1 year high of $199.72.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its earnings results on Thursday, February 8th. The semiconductor company reported $1.06 EPS 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 the consensus estimate of $209.06 million. During the same quarter in the previous year, the firm posted $1.57 earnings per share. The company's revenue was down 13.5% compared to the same quarter last year. Research analysts expect that Onto Innovation Inc. will post 4.7 earnings per share for the current year.

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.