Bridge City Capital LLC Increases Position in Onto Innovation Inc. (NYSE:ONTO)

Bridge City Capital LLC boosted its holdings in Onto Innovation Inc. (NYSE:ONTO) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,165 shares of the semiconductor company’s stock after buying an additional 78 shares during the quarter. Bridge City Capital LLC’s holdings in Onto Innovation were worth $1,361,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Citigroup Inc. increased its holdings 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 last quarter. Raymond James Financial Inc. purchased a new position in Onto Innovation in the fourth quarter valued at about $43,893,000. Proficio Capital Partners LLC acquired a new position in Onto Innovation during the fourth quarter worth about $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 stake in Onto Innovation by 1,296.7% in the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock valued at $45,079,000 after purchasing an additional 201,640 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Benchmark reissued a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Stifel Nicolaus dropped their price objective 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. StockNews.com upgraded Onto Innovation from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Finally, Oppenheimer dropped their target price on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Onto Innovation presently has a consensus rating of “Moderate Buy” and a consensus price target of $246.88.

Insiders Place Their Bets

In other Onto Innovation 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 value of $4,003,800.00. Following the transaction, the chief executive officer now owns 215,492 shares of the company’s stock, valued at approximately $43,139,343.48. This represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the firm’s 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 directly owns 15,223 shares of the company’s stock, valued at approximately $3,120,715. This represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,827 shares of company stock worth $18,182,185. 0.72% of the stock is owned by corporate insiders.

Onto Innovation Trading Down 1.4 %

ONTO stock opened at $135.73 on Friday. The firm’s 50-day moving average is $171.89 and its two-hundred day moving average is $180.58. The company has a market capitalization of $6.69 billion, a price-to-earnings ratio of 33.43, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a 52 week low of $121.47 and a 52 week high of $238.93.

Onto Innovation (NYSE:ONTO) last issued 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 return on equity of 14.24% and a net margin of 20.43%. On average, equities research analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current 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.