Onto Innovation Inc. (NYSE:ONTO) Position Raised by First Eagle Investment Management LLC

First Eagle Investment Management LLC boosted its position in Onto Innovation Inc. (NYSE:ONTO) by 5.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,103 shares of the semiconductor company’s stock after purchasing an additional 250 shares during the period. First Eagle Investment Management LLC’s holdings in Onto Innovation were worth $851,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its stake in Onto Innovation by 1.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 16,083 shares of the semiconductor company’s stock valued at $2,680,000 after buying an additional 225 shares in the last quarter. Swiss National Bank lifted its holdings in Onto Innovation by 0.9% in the 4th quarter. Swiss National Bank now owns 97,141 shares of the semiconductor company’s stock valued at $16,190,000 after acquiring an additional 900 shares during the last quarter. Avantax Advisory Services Inc. boosted its position in shares of Onto Innovation by 6.9% during the 4th quarter. Avantax Advisory Services Inc. now owns 10,231 shares of the semiconductor company’s stock valued at $1,705,000 after purchasing an additional 660 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Onto Innovation by 4.0% in the 4th quarter. HighTower Advisors LLC now owns 10,587 shares of the semiconductor company’s stock worth $1,765,000 after purchasing an additional 403 shares during the last quarter. Finally, Wealthfront Advisers LLC acquired a new stake in Onto Innovation during the fourth quarter valued at approximately $20,182,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Benchmark reaffirmed a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Stifel Nicolaus decreased their target price on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a report on Friday, February 7th. Finally, Oppenheimer cut their price target on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $246.88.

Insiders Place Their Bets

In related news, SVP Srinivas Vedula sold 827 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the transaction, the senior vice president now directly owns 15,223 shares of the company’s stock, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael P. Plisinski sold 20,000 shares of Onto Innovation stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the completion of the transaction, the chief executive officer now directly owns 215,492 shares in the company, valued at approximately $43,139,343.48. This represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,827 shares of company stock valued at $18,182,185 in the last three months. Insiders own 0.72% of the company’s stock.

Onto Innovation Stock Performance

ONTO stock opened at $138.72 on Monday. The stock has a market cap of $6.83 billion, a P/E ratio of 34.17, a P/E/G ratio of 0.89 and a beta of 1.29. The firm has a 50 day simple moving average of $177.40 and a 200 day simple moving average of $182.83. Onto Innovation Inc. has a 52 week low of $121.47 and a 52 week high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. Sell-side analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current 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.