Blueshift Asset Management LLC Acquires 724 Shares of Onto Innovation Inc. (NYSE:ONTO)

Blueshift Asset Management LLC lifted its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 28.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,252 shares of the semiconductor company’s stock after acquiring an additional 724 shares during the period. Blueshift Asset Management LLC’s holdings in Onto Innovation were worth $542,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ONTO. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Benchmark reiterated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Oppenheimer lowered their price objective on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Finally, StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $246.88.

Insider Activity

In related news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction of $169,535.00. Following the transaction, the senior vice president now directly owns 15,223 shares of the company’s stock, valued at $3,120,715. This represents a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael P. Plisinski sold 35,000 shares of the stock in a transaction on 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 directly owns 150,492 shares in the company, valued at approximately $32,986,341.48. This represents 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 have sold 85,827 shares of company stock valued at $18,182,185. 0.72% of the stock is currently owned by insiders.

Onto Innovation Stock Performance

Shares of NYSE ONTO opened at $137.55 on Friday. Onto Innovation Inc. has a 52-week low of $121.47 and a 52-week high of $238.93. The firm has a 50 day moving average price of $172.97 and a two-hundred day moving average price of $181.16. The stock has a market cap of $6.78 billion, a P/E ratio of 33.88, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating 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%. Analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

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.