Heritage Wealth Management LLC Makes New Investment in Onto Innovation Inc. (NYSE:ONTO)

Heritage Wealth Management LLC acquired a new position in Onto Innovation Inc. (NYSE:ONTO) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,874 shares of the semiconductor company’s stock, valued at approximately $287,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ONTO. Vanguard Group Inc. lifted its holdings in shares of Onto Innovation by 0.5% during the third quarter. Vanguard Group Inc. now owns 5,728,291 shares of the semiconductor company’s stock worth $730,472,000 after buying an additional 27,695 shares during the last quarter. Paradigm Capital Management Inc. NY grew its holdings in shares of Onto Innovation by 0.4% during the third quarter. Paradigm Capital Management Inc. NY now owns 1,182,689 shares of the semiconductor company’s stock worth $150,817,000 after buying an additional 4,400 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Onto Innovation by 113.7% during the third quarter. Invesco Ltd. now owns 1,074,877 shares of the semiconductor company’s stock worth $137,068,000 after buying an additional 571,917 shares in the last quarter. International Assets Investment Management LLC grew its stake in Onto Innovation by 14,819.4% in the fourth quarter. International Assets Investment Management LLC now owns 615,575 shares of the semiconductor company’s stock valued at $94,121,000 after purchasing an additional 611,449 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Onto Innovation by 0.8% during the 3rd quarter. Northern Trust Corp now owns 608,293 shares of the semiconductor company’s stock worth $77,570,000 after acquiring an additional 4,583 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Insider Transactions at Onto Innovation

In related news, 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 $41,324,136.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Onto Innovation news, Director David Brian Miller sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total value of $477,372.00. Following the completion of the transaction, the director now directly owns 9,008 shares in the company, valued at $1,535,773.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael P. Plisinski sold 40,000 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last quarter, insiders sold 47,170 shares of company stock worth $8,266,955. Company insiders own 0.72% of the company’s stock.

Onto Innovation Trading Up 2.3 %

Shares of NYSE:ONTO traded up $4.59 on Friday, hitting $200.30. 328,273 shares of the company were exchanged, compared to its average volume of 426,085. The firm has a market capitalization of $9.84 billion, a P/E ratio of 79.54 and a beta of 1.40. The stock’s 50 day moving average price is $183.42 and its 200 day moving average price is $158.42. Onto Innovation Inc. has a 1-year low of $80.17 and a 1-year high of $204.39.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.99 by $0.07. The firm had revenue of $219.00 million for the quarter, compared to analyst estimates of $209.06 million. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The business’s revenue for the quarter was down 13.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.57 EPS. On average, equities analysts predict that Onto Innovation Inc. will post 4.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ONTO has been the topic of a number of research reports. Benchmark boosted their price objective on Onto Innovation from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. B. Riley raised their target price on Onto Innovation from $195.00 to $205.00 and gave the company a “buy” rating in a report on Friday, February 9th. Evercore ISI started coverage on Onto Innovation in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $235.00 target price for the company. StockNews.com upgraded Onto Innovation from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. Finally, Stifel Nicolaus lifted their price target on Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $191.60.

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.