Empower Advisory Group LLC Invests $907,000 in Onto Innovation Inc. (NYSE:ONTO)

Empower Advisory Group LLC acquired a new position in Onto Innovation Inc. (NYSE:ONTO) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,439 shares of the semiconductor company’s stock, valued at approximately $907,000.

Other hedge funds also recently added to or reduced their stakes in the company. Mather Group LLC. lifted its stake in Onto Innovation by 209.4% in the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 111 shares during the period. Versant Capital Management Inc lifted its position in shares of Onto Innovation by 532.4% during the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 197 shares during the last quarter. Berbice Capital Management LLC purchased a new stake in shares of Onto Innovation during the fourth quarter valued at about $50,000. Eastern Bank purchased a new stake in shares of Onto Innovation during the third quarter valued at about $65,000. Finally, UMB Bank n.a. lifted its position in shares of Onto Innovation by 22.8% during the fourth quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock valued at $66,000 after buying an additional 74 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ONTO has been the subject of several analyst reports. Stifel Nicolaus decreased their price target on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Benchmark reissued a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Needham & Company LLC reissued a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. StockNews.com lowered shares of Onto Innovation from a “hold” rating to a “sell” rating in a research report on Tuesday, February 11th. Finally, Jefferies Financial Group decreased their price target on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $251.25.

Onto Innovation Trading Down 2.0 %

NYSE ONTO opened at $173.07 on Wednesday. The company has a fifty day simple moving average of $186.79 and a two-hundred day simple moving average of $189.64. The stock has a market cap of $8.55 billion, a P/E ratio of 42.63, a P/E/G ratio of 1.09 and a beta of 1.31. Onto Innovation Inc. has a 12-month low of $145.15 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.41%. As a group, sell-side analysts forecast that Onto Innovation Inc. will post 6.46 earnings per share for the current year.

Insider Transactions at Onto Innovation

In other news, CEO Michael P. Plisinski sold 35,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total value of $7,671,650.00. Following the sale, the chief executive officer now owns 150,492 shares in the company, valued at $32,986,341.48. This represents a 18.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Srinivas Vedula sold 827 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total transaction of $169,535.00. Following the completion of the sale, the senior vice president now owns 15,223 shares in the company, valued at $3,120,715. The trade was a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock worth $18,182,185 over the last 90 days. 0.72% of the stock is currently owned by company insiders.

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.