Greenwood Capital Associates LLC Invests $266,000 in Onto Innovation Inc. (NYSE:ONTO)

Greenwood Capital Associates LLC bought a new position in shares of Onto Innovation Inc. (NYSE:ONTO) during the 4th quarter, Holdings Channel reports. The institutional investor bought 1,593 shares of the semiconductor company’s stock, valued at approximately $266,000.

Several other institutional investors have also recently added to or reduced their stakes in ONTO. UMB Bank n.a. increased its stake in Onto Innovation by 22.8% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock valued at $66,000 after purchasing an additional 74 shares during the last quarter. Northwest & Ethical Investments L.P. grew its position in shares of Onto Innovation by 7.8% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 1,050 shares of the semiconductor company’s stock valued at $218,000 after buying an additional 76 shares during the last quarter. Quarry LP raised its stake in Onto Innovation by 232.4% during the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 79 shares in the last quarter. Hunter Perkins Capital Management LLC lifted its position in Onto Innovation by 3.6% in the third quarter. Hunter Perkins Capital Management LLC now owns 2,325 shares of the semiconductor company’s stock valued at $483,000 after acquiring an additional 80 shares during the last quarter. Finally, Huntington National Bank lifted its position in Onto Innovation by 26.3% in the third quarter. Huntington National Bank now owns 423 shares of the semiconductor company’s stock valued at $88,000 after acquiring an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Performance

ONTO stock opened at $200.94 on Wednesday. The stock has a market capitalization of $9.92 billion, a PE ratio of 54.45, a price-to-earnings-growth ratio of 1.06 and a beta of 1.31. The company has a fifty day moving average of $182.80 and a 200-day moving average of $190.07. Onto Innovation Inc. has a one year low of $145.15 and a one year high of $238.93.

Analyst Upgrades and Downgrades

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

Insider Activity at Onto Innovation

In related news, SVP Srinivas Vedula sold 827 shares of the firm’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 sale, the senior vice president now owns 15,223 shares in the company, valued at $3,120,715. This trade represents a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael P. Plisinski sold 35,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the transaction, the chief executive officer now owns 150,492 shares in the company, valued at $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. Insiders sold a total of 85,827 shares of company stock worth $18,182,185 over the last 90 days. Company insiders own 0.72% of the company’s stock.

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.