Franklin Resources Inc. Has $258.88 Million Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Franklin Resources Inc. raised its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 21.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,553,271 shares of the semiconductor company’s stock after buying an additional 271,470 shares during the period. Franklin Resources Inc. owned about 3.14% of Onto Innovation worth $258,883,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Kestra Investment Management LLC acquired a new position in Onto Innovation in the fourth quarter worth approximately $26,000. Mather Group LLC. raised its position in shares of Onto Innovation by 209.4% in the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 111 shares during the period. Versant Capital Management Inc lifted its stake in shares of Onto Innovation by 532.4% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after buying an additional 197 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Onto Innovation during the 4th quarter worth $43,000. Finally, Berbice Capital Management LLC acquired a new position in Onto Innovation in the 4th quarter valued at $50,000. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Onto Innovation Stock Performance

Shares of ONTO stock opened at $123.03 on Wednesday. The firm has a fifty day moving average of $160.73 and a 200-day moving average of $177.66. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 30.30, a P/E/G ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a 52-week low of $116.16 and a 52-week high of $238.93.

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

Insiders Place Their Bets

In related news, CEO Michael P. Plisinski sold 20,000 shares of the firm’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the completion of the sale, the chief executive officer now directly owns 215,492 shares of the company’s stock, valued at $43,139,343.48. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $169,535.00. Following the sale, the senior vice president now owns 15,223 shares in the company, valued at $3,120,715. The trade was a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,827 shares of company stock worth $18,182,185 over the last three months. 0.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on ONTO. Stifel Nicolaus set a $200.00 target price on shares of Onto Innovation and gave the stock a “buy” rating in a research report on Friday. Oppenheimer decreased their target price on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Benchmark reaffirmed a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Needham & Company LLC reissued a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Jefferies Financial Group dropped their target price on shares of Onto Innovation from $245.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.88.

Onto Innovation Company 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.