Olympiad Research LP Invests $246,000 in Onto Innovation Inc. (NYSE:ONTO)

Olympiad Research LP purchased a new position in Onto Innovation Inc. (NYSE:ONTO) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,478 shares of the semiconductor company’s stock, valued at approximately $246,000.

A number of other large investors also recently modified their holdings of ONTO. Congress Asset Management Co. lifted its position in shares of Onto Innovation by 38.1% in the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after buying an additional 295,869 shares during the last quarter. Citigroup Inc. lifted its position 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 worth $66,236,000 after buying an additional 284,115 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Onto Innovation by 12.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after buying an additional 228,800 shares during the last quarter. Barclays PLC lifted its position in shares of Onto Innovation by 1,296.7% in the 3rd quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock worth $45,079,000 after buying an additional 201,640 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Onto Innovation by 20.5% in the 3rd quarter. FMR LLC now owns 825,682 shares of the semiconductor company’s stock worth $171,379,000 after buying an additional 140,659 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Onto Innovation

In other news, CEO Michael P. Plisinski sold 35,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 150,492 shares in the company, valued at approximately $32,986,341.48. This trade represents a 18.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Srinivas Vedula sold 827 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction of $169,535.00. Following the transaction, the senior vice president now owns 15,223 shares of the company’s stock, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,827 shares of company stock valued at $18,182,185. Company insiders own 0.72% of the company’s stock.

Onto Innovation Trading Down 4.7 %

Onto Innovation stock opened at $159.23 on Monday. The stock has a market cap of $7.86 billion, a price-to-earnings ratio of 39.22, a PEG ratio of 0.89 and a beta of 1.31. The company’s 50-day moving average price is $186.90 and its two-hundred day moving average price is $189.74. Onto Innovation Inc. has a 52 week low of $145.15 and a 52 week high of $238.93.

Onto Innovation (NYSE:ONTO) last released its earnings results 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%. Research analysts expect that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ONTO. StockNews.com downgraded shares of Onto Innovation from a “hold” rating to a “sell” rating in a research report on Tuesday, February 11th. Jefferies Financial Group dropped their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a 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 report on Friday, February 7th. Finally, Benchmark reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $246.88.

Onto Innovation 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.