National Bank of Canada FI Increases Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

National Bank of Canada FI increased its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 631.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 90,000 shares of the semiconductor company’s stock after buying an additional 77,700 shares during the quarter. National Bank of Canada FI owned about 0.18% of Onto Innovation worth $15,000,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Onto Innovation in the fourth quarter valued at $87,987,000. Artisan Partners Limited Partnership lifted its stake in shares of Onto Innovation by 41.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company’s stock valued at $252,530,000 after purchasing an additional 444,860 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Onto Innovation by 21.2% during the 4th quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company’s stock worth $258,883,000 after purchasing an additional 271,470 shares during the period. Raymond James Financial Inc. acquired a new stake in Onto Innovation during the 4th quarter worth approximately $43,893,000. Finally, Proficio Capital Partners LLC acquired a new stake in Onto Innovation during the 4th quarter worth approximately $41,946,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Michael P. Plisinski sold 20,000 shares of the company’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 transaction, the chief executive officer now directly owns 215,492 shares in the company, valued at $43,139,343.48. This represents a 8.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the firm’s stock in a transaction on 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. The trade was a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock worth $18,182,185 over the last ninety days. 0.72% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ONTO shares. Jefferies Financial Group decreased their price objective on shares of Onto Innovation from $245.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Stifel Nicolaus set a $200.00 target price on Onto Innovation and gave the stock a “buy” rating in a research report on Friday, March 28th. Finally, Benchmark reiterated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $231.88.

Onto Innovation Trading Down 4.7 %

Onto Innovation stock opened at $104.63 on Friday. Onto Innovation Inc. has a 52 week low of $98.21 and a 52 week high of $238.93. The stock has a market cap of $5.16 billion, a P/E ratio of 25.77, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. The stock has a 50 day moving average of $154.44 and a 200-day moving average of $176.24.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data 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, equities analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal 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.