Calamos Advisors LLC Increases Stake in Onto Innovation Inc. (NYSE:ONTO)

Calamos Advisors LLC lifted its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 103.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,005 shares of the semiconductor company's stock after acquiring an additional 13,735 shares during the period. Calamos Advisors LLC owned approximately 0.06% of Onto Innovation worth $4,129,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ONTO. International Assets Investment Management LLC increased its position in shares of Onto Innovation by 14,819.4% during the fourth quarter. International Assets Investment Management LLC now owns 615,575 shares of the semiconductor company's stock worth $94,121,000 after acquiring an additional 611,449 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Onto Innovation by 55.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,666,438 shares of the semiconductor company's stock worth $116,217,000 after purchasing an additional 592,920 shares in the last quarter. Invesco Ltd. grew its position in Onto Innovation by 113.7% in the 3rd quarter. Invesco Ltd. now owns 1,074,877 shares of the semiconductor company's stock worth $137,068,000 after purchasing an additional 571,917 shares in the last quarter. Norges Bank bought a new stake in Onto Innovation in the 4th quarter worth about $33,441,000. Finally, Envestnet Asset Management Inc. grew its position in Onto Innovation by 572.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 527,016 shares of the semiconductor company's stock worth $6,392,000 after purchasing an additional 448,591 shares in the last quarter. 98.35% of the stock is owned by institutional investors.

Onto Innovation Trading Down 4.6 %

Shares of ONTO stock traded down $8.24 during trading on Friday, reaching $169.39. 606,594 shares of the company's stock traded hands, compared to its average volume of 344,845. The company has a market capitalization of $8.32 billion, a P/E ratio of 68.86 and a beta of 1.40. The firm's 50-day moving average is $181.80 and its 200 day moving average is $155.78. 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 announced its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $1.06 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 14.85% and a return on equity of 10.95%. Onto Innovation's revenue was down 13.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.57 EPS. As a group, sell-side analysts predict that Onto Innovation Inc. will post 4.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ONTO shares. Benchmark upped their price objective 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. Evercore ISI began coverage on shares of Onto Innovation in a research note on Tuesday, April 16th. They issued 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 research note on Monday, February 12th. Stifel Nicolaus boosted their target price on shares of Onto Innovation from $188.00 to $215.00 and gave the company a "buy" rating in a research note on Monday, March 25th. Finally, 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 research note on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $191.60.

Insider Activity at Onto Innovation

In related news, Director David Brian Miller sold 2,800 shares of the company's stock in a transaction that occurred on 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 owns 9,008 shares of the company's stock, valued at approximately $1,535,773.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Michael P. Plisinski sold 40,000 shares of the company'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 of the company's stock, valued at approximately $41,324,136.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Brian Miller sold 2,800 shares of the company's stock in a transaction that occurred on Tuesday, February 13th. The stock was 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 in the company, valued at approximately $1,535,773.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,170 shares of company stock worth $8,266,955. 0.72% of the stock is owned by corporate insiders.

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.