Greenwood Capital Associates LLC Acquires New Stake in Onto Innovation Inc. (NYSE:ONTO)

Greenwood Capital Associates LLC bought a new position in shares of Onto Innovation Inc. (NYSE:ONTO) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,593 shares of the semiconductor company’s stock, valued at approximately $266,000.

A number of other large investors have also modified their holdings of ONTO. UMB Bank n.a. boosted its position in Onto Innovation by 22.8% during the fourth quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock worth $66,000 after acquiring an additional 74 shares during the last quarter. Northwest & Ethical Investments L.P. grew its position in shares of Onto Innovation by 7.8% in the third quarter. Northwest & Ethical Investments L.P. now owns 1,050 shares of the semiconductor company’s stock valued at $218,000 after purchasing an additional 76 shares in the last quarter. Quarry LP grew its position in shares of Onto Innovation by 232.4% in the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. Hunter Perkins Capital Management LLC lifted its position in Onto Innovation by 3.6% during the third quarter. Hunter Perkins Capital Management LLC now owns 2,325 shares of the semiconductor company’s stock worth $483,000 after buying an additional 80 shares in the last quarter. Finally, Huntington National Bank boosted its stake in Onto Innovation by 26.3% during the third quarter. Huntington National Bank now owns 423 shares of the semiconductor company’s stock worth $88,000 after buying an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insider Activity

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction dated 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 of the company’s stock, valued at $3,120,715. This trade represents a 5.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael P. Plisinski sold 20,000 shares of the business’s stock in a transaction dated 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 directly 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 85,827 shares of company stock valued at $18,182,185. 0.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on ONTO. Jefferies Financial Group cut their target price on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Oppenheimer reaffirmed an “outperform” rating and set a $275.00 target price on shares of Onto Innovation in a research note on Tuesday, December 17th. Needham & Company LLC dropped their price target on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Cantor Fitzgerald assumed coverage on shares of Onto Innovation in a research report on Monday, January 13th. They set an “overweight” rating and a $250.00 price target on the stock. Finally, Benchmark reissued a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $253.75.

Onto Innovation Price Performance

Shares of Onto Innovation stock opened at $200.94 on Wednesday. The stock has a market capitalization of $9.92 billion, a price-to-earnings ratio of 54.45, a price-to-earnings-growth ratio of 1.06 and a beta of 1.31. The business has a 50-day moving average of $182.80 and a 200 day moving average of $190.07. Onto Innovation Inc. has a 12 month low of $145.15 and a 12 month high of $238.93.

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.