Invesco Ltd. Acquires 356,161 Shares of Onto Innovation Inc. (NYSE:ONTO)

Invesco Ltd. grew its holdings in Onto Innovation Inc. (NYSE:ONTO) by 33.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,406,034 shares of the semiconductor company’s stock after purchasing an additional 356,161 shares during the period. Invesco Ltd.’s holdings in Onto Innovation were worth $234,344,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ONTO. Federated Hermes Inc. grew its stake in shares of Onto Innovation by 20.5% in the fourth quarter. Federated Hermes Inc. now owns 8,566 shares of the semiconductor company’s stock worth $1,428,000 after acquiring an additional 1,455 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in Onto Innovation in the fourth quarter worth approximately $47,000. Russell Investments Group Ltd. raised its stake in Onto Innovation by 13.7% during the 4th quarter. Russell Investments Group Ltd. now owns 13,622 shares of the semiconductor company’s stock valued at $2,270,000 after buying an additional 1,640 shares during the last quarter. Katamaran Capital LLP bought a new position in shares of Onto Innovation during the 4th quarter valued at $2,407,000. Finally, Aviva PLC boosted its stake in shares of Onto Innovation by 10.5% in the 4th quarter. Aviva PLC now owns 3,637 shares of the semiconductor company’s stock worth $606,000 after buying an additional 346 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the sale, the chief executive officer now owns 150,492 shares in the company, valued at approximately $32,986,341.48. The trade was a 18.87 % 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 valued at $18,182,185 over the last ninety days. 0.72% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on ONTO shares. Benchmark reissued a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Jefferies Financial Group lowered their price objective on shares of Onto Innovation from $245.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Oppenheimer cut their target price on shares of Onto Innovation from $240.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Finally, StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $220.63.

Onto Innovation Price Performance

Shares of NYSE:ONTO opened at $120.40 on Friday. The company has a market capitalization of $5.93 billion, a P/E ratio of 29.65, a P/E/G ratio of 0.89 and a beta of 1.46. Onto Innovation Inc. has a 1-year low of $98.21 and a 1-year high of $238.93. The firm’s 50 day simple moving average is $143.57 and its two-hundred day simple moving average is $172.35.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 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%. On average, sell-side analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal 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.