Truist Financial Corp Has $268,000 Holdings in Onto Innovation Inc. (NYSE:ONTO)

Truist Financial Corp lifted its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 35.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,605 shares of the semiconductor company’s stock after acquiring an additional 421 shares during the period. Truist Financial Corp’s holdings in Onto Innovation were worth $268,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Mather Group LLC. increased its holdings in Onto Innovation by 209.4% during 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 grew its holdings in shares of Onto Innovation by 532.4% during the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after buying an additional 197 shares in the last quarter. Berbice Capital Management LLC bought a new position in shares of Onto Innovation during the fourth quarter worth about $50,000. UMB Bank n.a. raised its position in Onto Innovation by 22.8% in the 4th quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock valued at $66,000 after buying an additional 74 shares during the last quarter. Finally, Huntington National Bank lifted its stake in Onto Innovation by 26.3% in the 3rd quarter. Huntington National Bank now owns 423 shares of the semiconductor company’s stock valued at $88,000 after acquiring an additional 88 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Stock Performance

Shares of NYSE:ONTO opened at $140.16 on Thursday. The company has a 50-day simple moving average of $182.87 and a 200 day simple moving average of $186.90. The company has a market capitalization of $6.91 billion, a P/E ratio of 34.52, a price-to-earnings-growth ratio of 0.89 and a beta of 1.31. Onto Innovation Inc. has a 52-week low of $129.53 and a 52-week high of $238.93.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating 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, equities analysts forecast that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction dated Wednesday, January 15th. The shares were 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 $3,120,715. This represents a 5.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael P. Plisinski sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total value of $7,671,650.00. Following the sale, the chief executive officer now owns 150,492 shares of the company’s stock, valued at approximately $32,986,341.48. This represents a 18.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 85,827 shares of company stock valued at $18,182,185 over the last ninety days. 0.72% of the stock is currently owned by company insiders.

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.