Raymond James & Associates Buys 8,792 Shares of Onto Innovation Inc. (NYSE:ONTO)

Raymond James & Associates increased its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 153.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,516 shares of the semiconductor company's stock after buying an additional 8,792 shares during the quarter. Raymond James & Associates' holdings in Onto Innovation were worth $2,219,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in Onto Innovation by 55.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,666,438 shares of the semiconductor company's stock valued at $116,217,000 after acquiring an additional 592,920 shares in the last quarter. Invesco Ltd. boosted its holdings in Onto Innovation by 113.7% in the third quarter. Invesco Ltd. now owns 1,074,877 shares of the semiconductor company's stock valued at $137,068,000 after acquiring an additional 571,917 shares in the last quarter. Norges Bank bought a new stake in shares of Onto Innovation during the 4th quarter valued at $33,441,000. Envestnet Asset Management Inc. boosted its holdings in shares of Onto Innovation by 572.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 527,016 shares of the semiconductor company's stock valued at $6,392,000 after buying an additional 448,591 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in shares of Onto Innovation during the 1st quarter valued at $26,541,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Onto Innovation news, Director David Brian Miller sold 2,800 shares of the business's stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total value of $477,372.00. Following the completion of 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 available through this link. In other news, VP Yoon Ah Oh sold 1,685 shares of the company's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $180.00, for a total transaction of $303,300.00. Following the completion of the sale, the vice president now owns 14,913 shares of the company's stock, valued at approximately $2,684,340. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Brian Miller sold 2,800 shares of the company's stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total transaction of $477,372.00. Following the sale, the director now directly owns 9,008 shares of the company's stock, valued at approximately $1,535,773.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,170 shares of company stock valued at $8,266,955. 0.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ONTO has been the topic of a number of research reports. B. Riley boosted their target price on shares of Onto Innovation from $195.00 to $205.00 and gave the company a "buy" rating in a report on Friday, February 9th. Evercore ISI initiated coverage on shares of Onto Innovation in a report on Tuesday. They set an "outperform" rating and a $235.00 target price on the stock. StockNews.com upgraded shares of Onto Innovation from a "sell" rating to a "hold" rating in a report on Monday, February 12th. 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 note on Friday, February 9th. Finally, Stifel Nicolaus upped their price target 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $191.60.

Onto Innovation Price Performance

Onto Innovation stock traded down $7.66 during mid-day trading on Wednesday, reaching $182.06. The stock had a trading volume of 491,641 shares, compared to its average volume of 412,401. The company has a market capitalization of $8.94 billion, a price-to-earnings ratio of 77.12 and a beta of 1.40. The company has a 50-day moving average price of $181.29 and a two-hundred day moving average price of $154.74. Onto Innovation Inc. has a one year low of $76.40 and a one 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 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.07. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The business had revenue of $219.00 million during the quarter, compared to analyst estimates of $209.06 million. During the same quarter in the previous year, the firm earned $1.57 EPS. Onto Innovation's revenue was down 13.5% on a year-over-year basis. On average, equities research analysts anticipate that Onto Innovation Inc. will post 4.7 earnings per share for the current fiscal year.

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.