SBI Securities Co. Ltd. Makes New Investment in Onto Innovation Inc. (NYSE:ONTO)

SBI Securities Co. Ltd. purchased a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 259 shares of the semiconductor company’s stock, valued at approximately $43,000.

Other large investors have also made changes to their positions in the company. Bailard Inc. bought a new stake in shares of Onto Innovation in the fourth quarter worth about $572,000. Norden Group LLC boosted its position in Onto Innovation by 6.3% during the fourth quarter. Norden Group LLC now owns 3,362 shares of the semiconductor company’s stock valued at $560,000 after purchasing an additional 198 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Onto Innovation by 51.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 548 shares of the semiconductor company’s stock valued at $92,000 after purchasing an additional 185 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in shares of Onto Innovation by 8.0% in the fourth quarter. Mutual of America Capital Management LLC now owns 47,588 shares of the semiconductor company’s stock valued at $7,931,000 after buying an additional 3,533 shares during the last quarter. Finally, VELA Investment Management LLC lifted its position in shares of Onto Innovation by 48.5% in the fourth quarter. VELA Investment Management LLC now owns 4,645 shares of the semiconductor company’s stock valued at $774,000 after buying an additional 1,517 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ONTO shares. StockNews.com upgraded Onto Innovation from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Oppenheimer decreased their price target on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Finally, Benchmark reaffirmed a “buy” rating and set a $230.00 target price 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 assigned a buy rating to the company. According to data from MarketBeat.com, Onto Innovation currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.88.

Insider Transactions at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total transaction of $169,535.00. Following the sale, the senior vice president now owns 15,223 shares in the company, valued at $3,120,715. This represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael P. Plisinski sold 20,000 shares of the stock in a transaction 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 sale, the chief executive officer now owns 215,492 shares in the company, valued at approximately $43,139,343.48. This represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock worth $18,182,185 in the last 90 days. Insiders own 0.72% of the company’s stock.

Onto Innovation Price Performance

Shares of Onto Innovation stock opened at $124.58 on Wednesday. Onto Innovation Inc. has a one year low of $121.47 and a one year high of $238.93. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 0.89 and a beta of 1.29. The business has a 50-day simple moving average of $179.62 and a 200 day simple moving average of $184.37.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 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%. On average, sell-side analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current year.

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.