Handelsbanken Fonder AB Boosts Stake in Onto Innovation Inc. (NYSE:ONTO)

Handelsbanken Fonder AB lifted its stake in Onto Innovation Inc. (NYSE:ONTO) by 9.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,200 shares of the semiconductor company’s stock after purchasing an additional 900 shares during the period. Handelsbanken Fonder AB’s holdings in Onto Innovation were worth $1,560,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ONTO. Fifth Third Bancorp increased its stake in shares of Onto Innovation by 198.3% in the 4th quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 115 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in Onto Innovation in the 4th quarter worth $28,000. Huntington National Bank boosted its holdings in Onto Innovation by 70.3% in the 3rd quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock worth $31,000 after buying an additional 102 shares during the period. Operose Advisors LLC bought a new position in Onto Innovation in the 3rd quarter worth $49,000. Finally, Lindbrook Capital LLC boosted its holdings in Onto Innovation by 188.5% in the 4th quarter. Lindbrook Capital LLC now owns 577 shares of the semiconductor company’s stock worth $88,000 after buying an additional 377 shares during the period. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ONTO has been the subject of several recent analyst reports. Stifel Nicolaus upped their target price on shares of Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, March 25th. Benchmark increased their price objective on shares of Onto Innovation from $145.00 to $180.00 and gave the company a “buy” rating in a report on Friday, February 9th. B. Riley increased their price objective on shares of Onto Innovation from $195.00 to $205.00 and gave the company a “buy” rating in a report on Friday, February 9th. StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Finally, Evercore ISI began coverage on shares of Onto Innovation in a report on Tuesday, April 16th. They set an “outperform” rating and a $235.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.60.

Insider Activity at Onto Innovation

In related news, Director David Brian Miller sold 2,800 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total value of $477,372.00. Following the sale, the director now directly owns 9,008 shares of the company’s stock, valued at approximately $1,535,773.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director David Brian Miller sold 2,800 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total value of $477,372.00. Following the sale, the director now directly owns 9,008 shares of the company’s stock, valued at approximately $1,535,773.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael P. Plisinski sold 40,000 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the completion of the sale, the chief executive officer now directly owns 235,492 shares in the company, valued at $41,324,136.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,170 shares of company stock valued at $8,266,955. Insiders own 0.72% of the company’s stock.

Onto Innovation Trading Up 4.1 %

Shares of NYSE:ONTO opened at $189.77 on Friday. Onto Innovation Inc. has a 12 month low of $76.40 and a 12 month high of $199.72. The company has a 50-day moving average price of $182.23 and a 200 day moving average price of $157.19. The company has a market cap of $9.32 billion, a price-to-earnings ratio of 77.14 and a beta of 1.40.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The firm had revenue of $219.00 million during the quarter, compared to the consensus estimate of $209.06 million. During the same quarter last year, the firm earned $1.57 EPS. The firm’s revenue for the quarter was down 13.5% compared to the same quarter last year. As a group, equities analysts forecast that Onto Innovation Inc. will post 4.7 EPS 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.