Lindbrook Capital LLC Increases Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Lindbrook Capital LLC lifted its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 188.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 577 shares of the semiconductor company’s stock after acquiring an additional 377 shares during the quarter. Lindbrook Capital LLC’s holdings in Onto Innovation were worth $88,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Fifth Third Bancorp lifted its stake in 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. purchased a new stake in Onto Innovation in the 4th quarter worth approximately $28,000. Huntington National Bank lifted its stake 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 purchasing an additional 102 shares in the last quarter. Operose Advisors LLC purchased a new stake in Onto Innovation in the 3rd quarter worth approximately $49,000. Finally, Signaturefd LLC lifted its stake in Onto Innovation by 51.3% in the 3rd quarter. Signaturefd LLC now owns 844 shares of the semiconductor company’s stock worth $108,000 after purchasing an additional 286 shares in the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Onto Innovation

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

Onto Innovation Stock Performance

ONTO stock opened at $176.84 on Thursday. Onto Innovation Inc. has a 52 week low of $76.40 and a 52 week high of $199.72. The firm’s fifty day moving average is $181.96 and its 200 day moving average is $156.51. The firm has a market cap of $8.69 billion, a P/E ratio of 71.89 and a beta of 1.40.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Benchmark increased their price target on shares of Onto Innovation from $145.00 to $180.00 and gave the stock 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. Evercore ISI assumed coverage on shares of Onto Innovation in a report on Tuesday, April 16th. They issued an “outperform” rating and a $235.00 price target on the stock. B. Riley increased their target price 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. Finally, Stifel Nicolaus increased their target price on shares of Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a report on Monday, March 25th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $191.60.

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.