Zurcher Kantonalbank Zurich Cantonalbank Grows Holdings in Onto Innovation Inc. (NYSE:ONTO)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,739 shares of the semiconductor company’s stock after buying an additional 455 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Onto Innovation were worth $1,642,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC boosted its position in Onto Innovation by 14,819.4% during the fourth quarter. International Assets Investment Management LLC now owns 615,575 shares of the semiconductor company’s stock worth $94,121,000 after acquiring an additional 611,449 shares during the last quarter. Invesco Ltd. grew its position in shares of Onto Innovation by 113.7% in the third quarter. Invesco Ltd. now owns 1,074,877 shares of the semiconductor company’s stock valued at $137,068,000 after purchasing an additional 571,917 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Onto Innovation in the third quarter valued at $34,678,000. Allspring Global Investments Holdings LLC increased its stake in Onto Innovation by 854.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 296,049 shares of the semiconductor company’s stock valued at $45,266,000 after purchasing an additional 265,042 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Onto Innovation by 38.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 601,143 shares of the semiconductor company’s stock worth $76,658,000 after buying an additional 166,819 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Insider Activity

In related news, Director David Brian Miller sold 2,800 shares of Onto Innovation 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 sale, the director now owns 9,008 shares of the company’s stock, valued at approximately $1,535,773.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Onto Innovation news, VP Yoon Ah Oh sold 1,685 shares of the company’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 transaction, the vice president now directly owns 14,913 shares of the company’s stock, valued at approximately $2,684,340. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David Brian Miller sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total transaction 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 disclosure for this sale can be found here. Over the last three months, insiders sold 47,170 shares of company stock worth $8,266,955. 0.72% of the stock is currently owned by company insiders.

Onto Innovation Trading Up 0.4 %

Shares of NYSE ONTO opened at $176.84 on Thursday. The stock has a fifty day moving average price of $181.96 and a 200 day moving average price of $156.51. The company has a market cap of $8.69 billion, a P/E ratio of 71.89 and a beta of 1.40. Onto Innovation Inc. has a 12-month low of $76.40 and a 12-month high of $199.72.

Onto Innovation (NYSE:ONTO) last announced 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 business had revenue of $219.00 million for the quarter, compared to the consensus estimate of $209.06 million. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The company’s revenue was down 13.5% on a year-over-year basis. During the same period last year, the business posted $1.57 EPS. On average, sell-side analysts forecast that Onto Innovation Inc. will post 4.7 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Stifel Nicolaus upped their price objective on shares of Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, March 25th. 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. Benchmark upped their price objective on Onto Innovation from $145.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, February 9th. StockNews.com upgraded Onto Innovation from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Finally, B. Riley upped their price target on Onto Innovation from $195.00 to $205.00 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $191.60.

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.