Pier Capital LLC Makes New Investment in Onto Innovation Inc. (NYSE:ONTO)

Pier Capital LLC purchased a new position in Onto Innovation Inc. (NYSE:ONTO) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 51,599 shares of the semiconductor company’s stock, valued at approximately $8,600,000. Pier Capital LLC owned 0.10% of Onto Innovation at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cerity Partners LLC lifted its position in Onto Innovation by 287.0% in the third quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock worth $968,000 after purchasing an additional 3,458 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Onto Innovation by 1.6% in the third quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company’s stock valued at $173,401,000 after buying an additional 13,405 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock valued at $416,863,000 after buying an additional 228,800 shares during the period. HighTower Advisors LLC boosted its stake in Onto Innovation by 72.0% during the third quarter. HighTower Advisors LLC now owns 10,184 shares of the semiconductor company’s stock valued at $2,095,000 after buying an additional 4,263 shares in the last quarter. Finally, Barclays PLC grew its holdings in Onto Innovation by 1,296.7% during the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock worth $45,079,000 after acquiring an additional 201,640 shares during the period. 98.35% of the stock is currently owned by institutional investors.

Insider Activity

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the business’s stock in a transaction dated 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 owns 15,223 shares in the company, valued at $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael P. Plisinski sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total value of $4,003,800.00. Following the sale, the chief executive officer now directly owns 215,492 shares of the company’s stock, valued at $43,139,343.48. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock worth $18,182,185 in the last 90 days. Company insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

ONTO has been the subject of a number of research analyst reports. Oppenheimer cut their price target on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Stifel Nicolaus reduced 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. Benchmark reaffirmed a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Onto Innovation currently has a consensus rating of “Moderate Buy” and an average price target of $246.88.

Onto Innovation Stock Up 3.9 %

Shares of NYSE:ONTO opened at $140.87 on Tuesday. The company’s fifty day moving average is $170.88 and its two-hundred day moving average is $180.19. The company has a market cap of $6.94 billion, a P/E ratio of 34.70, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a 12-month low of $121.47 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 for the quarter, beating the consensus estimate of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. Equities research analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

About Onto Innovation

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.