Onto Innovation Inc. (NYSE:ONTO) Position Boosted by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 53.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,567 shares of the semiconductor company’s stock after acquiring an additional 20,285 shares during the period. Russell Investments Group Ltd. owned approximately 0.12% of Onto Innovation worth $8,955,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its holdings in Onto Innovation by 198.3% during the fourth 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. acquired a new stake in shares of Onto Innovation in the fourth quarter valued at $28,000. Huntington National Bank lifted 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 valued at $31,000 after buying an additional 102 shares during the period. GAMMA Investing LLC bought a new position in Onto Innovation during the fourth quarter valued at about $33,000. Finally, Operose Advisors LLC acquired a new position in Onto Innovation during the third quarter worth about $49,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Insider Transactions at Onto Innovation

In related news, VP Yoon Ah Oh sold 2,685 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $173.96, for a total transaction of $467,082.60. Following the transaction, the vice president now directly owns 16,598 shares of the company’s stock, valued at $2,887,388.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Onto Innovation news, VP Yoon Ah Oh sold 2,685 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $173.96, for a total value of $467,082.60. Following the transaction, the vice president now directly owns 16,598 shares of the company’s stock, valued at approximately $2,887,388.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael P. Plisinski sold 40,000 shares of Onto Innovation stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total value of $7,019,200.00. Following the sale, the chief executive officer now owns 235,492 shares of the company’s stock, valued at $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 over the last three months. 0.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. B. Riley raised their price objective on shares of Onto Innovation from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Friday, February 9th. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Benchmark raised 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. Stifel Nicolaus boosted their target price on Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Finally, Evercore ISI initiated coverage on Onto Innovation in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $235.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $191.60.

Onto Innovation Stock Performance

NYSE ONTO opened at $208.65 on Tuesday. The firm’s 50 day moving average price is $184.43 and its two-hundred day moving average price is $159.98. The stock has a market cap of $10.25 billion, a price-to-earnings ratio of 84.82 and a beta of 1.40. Onto Innovation Inc. has a twelve month low of $84.17 and a twelve month high of $210.11.

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

Onto Innovation Company 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.