Raymond James Financial Services Advisors Inc. Takes $207,000 Position in Onto Innovation Inc. (NYSE:ONTO)

Raymond James Financial Services Advisors Inc. bought a new position in Onto Innovation Inc. (NYSE:ONTO) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,354 shares of the semiconductor company’s stock, valued at approximately $207,000.

Other large investors have also recently made changes to their positions in the company. Contravisory Investment Management Inc. bought a new stake in shares of Onto Innovation in the fourth quarter worth about $28,000. Huntington National Bank increased its holdings in shares of Onto Innovation by 70.3% in the third quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 102 shares during the last quarter. Operose Advisors LLC bought a new stake in shares of Onto Innovation in the third quarter worth about $49,000. Signaturefd LLC increased its holdings in shares of Onto Innovation by 51.3% in the third quarter. Signaturefd LLC now owns 844 shares of the semiconductor company’s stock worth $108,000 after purchasing an additional 286 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Onto Innovation by 141.3% in the third quarter. CWM LLC now owns 1,559 shares of the semiconductor company’s stock worth $199,000 after purchasing an additional 913 shares during the last quarter. 98.35% of the stock is owned by institutional investors.

Onto Innovation Stock Performance

ONTO opened at $176.84 on Thursday. The stock has a market cap of $8.69 billion, a price-to-earnings ratio of 71.89 and a beta of 1.40. The stock’s 50 day moving average price is $181.96 and its 200-day moving average price is $156.51. Onto Innovation Inc. has a one year low of $76.40 and a one year high of $199.72.

Onto Innovation (NYSE:ONTO) last released its 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. The firm had revenue of $219.00 million for the quarter, compared to analysts’ expectations of $209.06 million. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The company’s quarterly revenue was down 13.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.57 earnings per share. As a group, analysts predict that Onto Innovation Inc. will post 4.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

ONTO has been the topic of several research reports. B. Riley lifted their target price on Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Evercore ISI started coverage on Onto Innovation in a research note on Tuesday, April 16th. They set an “outperform” rating and a $235.00 price objective on the stock. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. Stifel Nicolaus boosted their price objective on Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Finally, Benchmark boosted their price objective on Onto Innovation from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Onto Innovation has a consensus rating of “Moderate Buy” and an average target price of $191.60.

Insider Activity

In related news, VP Yoon Ah Oh sold 1,685 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $180.00, for a total value of $303,300.00. Following the completion of the sale, the vice president now owns 14,913 shares in the company, valued at $2,684,340. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Michael P. Plisinski sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total value of $7,019,200.00. Following the completion of the sale, the chief executive officer now owns 235,492 shares in the company, valued at $41,324,136.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Yoon Ah Oh sold 1,685 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $180.00, for a total value of $303,300.00. Following the completion of the sale, the vice president now owns 14,913 shares of the company’s stock, valued at approximately $2,684,340. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,170 shares of company stock valued at $8,266,955. 0.72% of the stock is currently owned by insiders.

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.