JPMorgan Chase & Co. Boosts Stock Position in Onto Innovation Inc. (NYSE:ONTO)

JPMorgan Chase & Co. increased its position in Onto Innovation Inc. (NYSE:ONTO) by 9.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,192,238 shares of the semiconductor company’s stock after acquiring an additional 183,839 shares during the quarter. JPMorgan Chase & Co. owned about 4.44% of Onto Innovation worth $365,380,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new position in shares of Onto Innovation in the fourth quarter valued at about $26,000. Mather Group LLC. lifted its holdings in Onto Innovation by 209.4% in the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 111 shares in the last quarter. Versant Capital Management Inc boosted its stake in Onto Innovation by 532.4% in the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 197 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Onto Innovation during the 4th quarter valued at approximately $43,000. Finally, Berbice Capital Management LLC purchased a new stake in Onto Innovation during the 4th quarter valued at approximately $50,000. Institutional investors own 98.35% of the company’s stock.

Insider Activity at Onto Innovation

In other news, CEO Michael P. Plisinski sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the transaction, the chief executive officer now owns 215,492 shares of the company’s stock, valued at approximately $43,139,343.48. This represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 sale, the senior vice president now directly owns 15,223 shares of the company’s stock, valued at $3,120,715. This represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 85,827 shares of company stock worth $18,182,185. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ONTO. Needham & Company LLC restated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Stifel Nicolaus set a $200.00 price objective on Onto Innovation and gave the company a “buy” rating in a research report on Friday. StockNews.com upgraded Onto Innovation from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Benchmark restated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $231.88.

Onto Innovation Price Performance

NYSE:ONTO opened at $121.99 on Monday. The firm has a market capitalization of $6.01 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 0.89 and a beta of 1.29. The business has a 50 day simple moving average of $164.57 and a 200-day simple moving average of $178.70. Onto Innovation Inc. has a 1 year low of $119.87 and a 1 year high of $238.93.

Onto Innovation (NYSE:ONTO) last issued 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 return on equity of 14.24% and a net margin of 20.43%. As a group, analysts expect that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

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.