Onto Innovation Inc. (NYSE:ONTO) Shares Bought by Magnetar Financial LLC

Magnetar Financial LLC raised its stake in Onto Innovation Inc. (NYSE:ONTO) by 288.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,997 shares of the semiconductor company’s stock after purchasing an additional 14,105 shares during the quarter. Magnetar Financial LLC’s holdings in Onto Innovation were worth $3,166,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Citigroup Inc. raised its stake in shares of Onto Innovation by 811.7% in the 3rd quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company’s stock valued at $66,236,000 after acquiring an additional 284,115 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Onto Innovation in the 4th quarter valued at $43,893,000. Proficio Capital Partners LLC purchased a new position in shares of Onto Innovation in the 4th quarter valued at $41,946,000. JPMorgan Chase & Co. raised its stake in shares of Onto Innovation by 12.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock valued at $416,863,000 after acquiring an additional 228,800 shares during the period. Finally, Barclays PLC raised its stake in shares of Onto Innovation by 1,296.7% in the 3rd quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock valued at $45,079,000 after acquiring an additional 201,640 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Stock Performance

ONTO opened at $137.55 on Friday. The company has a 50-day moving average of $172.97 and a 200-day moving average of $181.16. The company has a market capitalization of $6.78 billion, a P/E ratio of 33.88, a PEG ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a 1-year low of $121.47 and a 1-year high of $238.93.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, topping 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%. As a group, sell-side analysts expect that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. 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. Stifel Nicolaus dropped their price target on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Finally, StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $246.88.

Insider Activity

In other news, SVP Srinivas Vedula sold 827 shares of Onto Innovation 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 approximately $3,120,715. The trade was a 5.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael P. Plisinski sold 35,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were 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 directly owns 150,492 shares of the company’s stock, 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. In the last three months, insiders sold 85,827 shares of company stock valued at $18,182,185. Company insiders own 0.72% of the company’s stock.

Onto Innovation 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.