Nicholas Investment Partners LP Has $3.37 Million Stake in Onto Innovation Inc. (NYSE:ONTO)

Nicholas Investment Partners LP increased its stake in shares of Onto Innovation Inc. (NYSE:ONTOFree Report) by 1.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 22,029 shares of the semiconductor company’s stock after acquiring an additional 269 shares during the period. Nicholas Investment Partners LP’s holdings in Onto Innovation were worth $3,368,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in ONTO. Raymond James & Associates boosted its stake in Onto Innovation by 72.3% during the 3rd quarter. Raymond James & Associates now owns 5,724 shares of the semiconductor company’s stock valued at $730,000 after purchasing an additional 2,401 shares during the period. Advisor Partners II LLC lifted its position in shares of Onto Innovation by 131.8% in the 3rd quarter. Advisor Partners II LLC now owns 6,216 shares of the semiconductor company’s stock worth $793,000 after acquiring an additional 3,534 shares during the period. Park Avenue Securities LLC bought a new stake in shares of Onto Innovation in the 3rd quarter worth approximately $219,000. TIAA Trust National Association bought a new stake in shares of Onto Innovation in the 3rd quarter worth approximately $446,000. Finally, First Trust Direct Indexing L.P. lifted its position in shares of Onto Innovation by 7.3% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,274 shares of the semiconductor company’s stock worth $290,000 after acquiring an additional 154 shares during the period. Institutional investors own 98.35% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on ONTO. Evercore ISI raised their price objective on Onto Innovation from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Stifel Nicolaus raised their target price on Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Jefferies Financial Group started coverage on Onto Innovation in a research report on Monday. They set a “buy” rating and a $265.00 target price for the company. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Finally, B. Riley raised their price target on Onto Innovation from $235.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 10th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Onto Innovation has a consensus rating of “Moderate Buy” and an average target price of $242.00.

View Our Latest Research Report on ONTO

Onto Innovation Price Performance

Shares of NYSE ONTO traded up $5.29 during midday trading on Wednesday, hitting $233.59. The stock had a trading volume of 469,375 shares, compared to its average volume of 443,569. The company’s 50-day simple moving average is $188.03 and its 200 day simple moving average is $164.27. The firm has a market cap of $11.51 billion, a P/E ratio of 83.14 and a beta of 1.40. Onto Innovation Inc. has a fifty-two week low of $93.08 and a fifty-two week high of $234.71.

Onto Innovation (NYSE:ONTOGet Free Report) last released its earnings results on Thursday, May 9th. The semiconductor company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.10 by $0.08. The company had revenue of $228.80 million during the quarter, compared to analysts’ expectations of $222.60 million. Onto Innovation had a return on equity of 11.48% and a net margin of 16.43%. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period last year, the firm earned $0.92 EPS. Equities analysts expect that Onto Innovation Inc. will post 4.82 EPS for the current fiscal year.

Insider Activity

In related news, CEO Michael P. Plisinski sold 40,000 shares of Onto Innovation stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the completion of the sale, the chief executive officer now directly owns 235,492 shares of the company’s stock, valued at $41,324,136.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Yoon Ah Oh sold 2,685 shares of Onto Innovation stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $173.96, for a total transaction of $467,082.60. Following the transaction, 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 Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael P. Plisinski sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the completion of the transaction, the chief executive officer now owns 235,492 shares of the company’s stock, valued at approximately $41,324,136.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,370 shares of company stock valued at $7,789,583. Company insiders own 0.72% of the company’s stock.

Onto Innovation Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Onto Innovation (NYSE:ONTO)

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