Janney Montgomery Scott LLC Takes $935,000 Position in Onto Innovation Inc. (NYSE:ONTO)

Janney Montgomery Scott LLC acquired a new position in shares of Onto Innovation Inc. (NYSE:ONTO) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,612 shares of the semiconductor company’s stock, valued at approximately $935,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Cerity Partners LLC grew its stake in shares of Onto Innovation by 287.0% in the third quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock valued at $968,000 after buying an additional 3,458 shares in the last quarter. Geode Capital Management LLC grew its position in Onto Innovation by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company’s stock valued at $173,401,000 after acquiring an additional 13,405 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Onto Innovation by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after purchasing an additional 228,800 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Onto Innovation during the third quarter worth about $14,539,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Onto Innovation by 675.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 108 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ONTO. Benchmark reaffirmed a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, November 1st. Oppenheimer reaffirmed an “outperform” rating and set a $275.00 price objective on shares of Onto Innovation in a research report on Tuesday, December 17th. Jefferies Financial Group decreased their target price on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a report on Friday, November 1st. Cantor Fitzgerald assumed coverage on Onto Innovation in a report on Monday, January 13th. They set an “overweight” rating and a $250.00 price target on the stock. Finally, Needham & Company LLC decreased their price objective on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Onto Innovation has an average rating of “Moderate Buy” and an average target price of $253.75.

Onto Innovation Stock Performance

Shares of NYSE ONTO opened at $209.92 on Thursday. The stock’s 50-day simple moving average is $183.56 and its 200-day simple moving average is $190.10. The firm has a market capitalization of $10.37 billion, a PE ratio of 56.89, a price-to-earnings-growth ratio of 1.06 and a beta of 1.31. Onto Innovation Inc. has a fifty-two week low of $145.15 and a fifty-two week high of $238.93.

Insider Transactions at Onto Innovation

In related news, SVP Srinivas Vedula sold 827 shares of the company’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 completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael P. Plisinski sold 20,000 shares of Onto Innovation stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 215,492 shares in the company, valued at approximately $43,139,343.48. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,827 shares of company stock worth $18,182,185. 0.72% of the stock is currently owned by 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.