Federated Hermes Inc. Acquires New Shares in Onto Innovation Inc. (NYSE:ONTO)

Federated Hermes Inc. acquired a new stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 5,569 shares of the semiconductor company's stock, valued at approximately $852,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Peterson Wealth Services acquired a new position in Onto Innovation during the fourth quarter worth approximately $225,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Onto Innovation by 4.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,739 shares of the semiconductor company's stock valued at $1,642,000 after acquiring an additional 455 shares during the period. Cookson Peirce & Co. Inc. acquired a new stake in Onto Innovation during the 4th quarter valued at $208,000. VELA Investment Management LLC bought a new position in Onto Innovation during the fourth quarter worth $257,000. Finally, Strs Ohio raised its position in shares of Onto Innovation by 100.7% in the fourth quarter. Strs Ohio now owns 28,500 shares of the semiconductor company's stock valued at $4,357,000 after purchasing an additional 14,300 shares during the period. 98.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ONTO shares. StockNews.com upgraded shares of Onto Innovation from a "sell" rating to a "hold" rating in a research report on Monday, February 12th. Evercore ISI began coverage on Onto Innovation in a report on Tuesday, April 16th. They set an "outperform" rating and a $235.00 target price for the company. Benchmark upped their price target 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. Stifel Nicolaus lifted their price objective 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. Finally, B. Riley raised their target price on shares of Onto Innovation from $195.00 to $205.00 and gave the stock a "buy" rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $191.60.

Onto Innovation Stock Performance

Shares of ONTO traded up $10.43 during mid-day trading on Thursday, reaching $195.66. The company had a trading volume of 644,260 shares, compared to its average volume of 427,351. The company's 50 day simple moving average is $183.42 and its 200 day simple moving average is $158.42. The company has a market capitalization of $9.61 billion, a price-to-earnings ratio of 79.54 and a beta of 1.40. Onto Innovation Inc. has a 1-year low of $80.17 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.99 by $0.07. The business had revenue of $219.00 million during 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 business's revenue for the quarter was down 13.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.57 EPS. As a group, equities analysts forecast that Onto Innovation Inc. will post 4.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In related news, Director David Brian Miller sold 2,800 shares of Onto Innovation stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total value of $477,372.00. Following the transaction, the director now directly owns 9,008 shares of the company's stock, valued at $1,535,773.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP Yoon Ah Oh sold 2,685 shares of the company's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $173.96, for a total value of $467,082.60. Following the completion of the sale, the vice president now owns 16,598 shares in the company, valued at approximately $2,887,388.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Brian Miller sold 2,800 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 9,008 shares of the company's stock, valued at $1,535,773.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,170 shares of company stock worth $8,266,955. 0.72% of the stock is currently owned by company 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.