Proficio Capital Partners LLC Takes $252,000 Position in Onto Innovation Inc. (NYSE:ONTO)

Proficio Capital Partners LLC acquired a new position in shares of Onto Innovation Inc. (NYSE:ONTO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,510 shares of the semiconductor company’s stock, valued at approximately $252,000.

Several other institutional investors have also recently modified their holdings of the stock. Cerity Partners LLC lifted its position 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 acquiring an additional 3,458 shares in the last quarter. Geode Capital Management LLC lifted its holdings 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 purchasing an additional 13,405 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Onto Innovation by 12.9% during the 3rd 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 last quarter. HighTower Advisors LLC grew its holdings in shares of Onto Innovation by 72.0% during the third quarter. HighTower Advisors LLC now owns 10,184 shares of the semiconductor company’s stock worth $2,095,000 after buying an additional 4,263 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Onto Innovation by 1,296.7% in the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock valued at $45,079,000 after buying an additional 201,640 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Stock Down 4.1 %

Shares of ONTO stock opened at $133.13 on Thursday. Onto Innovation Inc. has a fifty-two week low of $121.47 and a fifty-two week high of $238.93. The firm’s 50 day moving average price is $168.16 and its two-hundred day moving average price is $179.59. The stock has a market cap of $6.56 billion, a price-to-earnings ratio of 32.79, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last posted its 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 net margin of 20.43% and a return on equity of 14.24%. On average, equities analysts forecast that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Insider Activity

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the company’s 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 completion of 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 filing with the SEC, which is available at the SEC website. Also, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation stock in a transaction dated 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 directly owns 150,492 shares in the company, valued at approximately $32,986,341.48. The trade was a 18.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 85,827 shares of company stock worth $18,182,185. 0.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Benchmark reaffirmed a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Stifel Nicolaus decreased their price target on Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.88.

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.