TimesSquare Capital Management LLC Purchases 49,795 Shares of Onto Innovation Inc. (NYSE:ONTO)

TimesSquare Capital Management LLC boosted its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 47.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,376 shares of the semiconductor company’s stock after purchasing an additional 49,795 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Onto Innovation were worth $25,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new stake in Onto Innovation in the fourth quarter valued at about $26,000. Mather Group LLC. raised its holdings in shares of Onto Innovation by 209.4% during the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 111 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Onto Innovation by 532.4% during the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 197 shares during the last quarter. Berbice Capital Management LLC acquired a new position in shares of Onto Innovation during the fourth quarter valued at approximately $50,000. Finally, Eastern Bank acquired a new position in shares of Onto Innovation during the third quarter valued at approximately $65,000. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Trading Down 1.2 %

Shares of NYSE ONTO opened at $170.67 on Thursday. The stock has a market cap of $8.43 billion, a P/E ratio of 42.04, a PEG ratio of 0.93 and a beta of 1.31. Onto Innovation Inc. has a 12-month low of $145.15 and a 12-month high of $238.93. The business’s fifty day simple moving average is $186.99 and its 200-day simple moving average is $189.75.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. On average, equities analysts forecast that Onto Innovation Inc. will post 6.32 EPS for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total transaction of $169,535.00. Following the transaction, the senior vice president now owns 15,223 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, CEO Michael P. Plisinski sold 30,000 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $211.24, for a total value of $6,337,200.00. Following the transaction, the chief executive officer now directly owns 185,492 shares in the company, valued at approximately $39,183,330.08. The trade was a 13.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,827 shares of company stock worth $18,182,185 over the last ninety days. Corporate insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

ONTO has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Jefferies Financial Group dropped their price target on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Stifel Nicolaus lowered their price objective on Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, February 7th. StockNews.com lowered Onto Innovation from a “hold” rating to a “sell” rating in a research report on Tuesday, February 11th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $275.00 price objective on shares of Onto Innovation in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. Based on data from MarketBeat, Onto Innovation currently has an average rating of “Moderate Buy” and an average price target of $251.25.

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.