Onto Innovation Inc. (NYSE:ONTO) Shares Bought by Amalgamated Bank

Amalgamated Bank lifted its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 40.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,105 shares of the semiconductor company’s stock after purchasing an additional 8,621 shares during the quarter. Amalgamated Bank owned about 0.06% of Onto Innovation worth $4,603,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in shares of Onto Innovation by 14,819.4% in the fourth quarter. International Assets Investment Management LLC now owns 615,575 shares of the semiconductor company’s stock valued at $94,121,000 after buying an additional 611,449 shares in the last quarter. Invesco Ltd. raised its stake in shares of Onto Innovation by 113.7% during 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 stake in Onto Innovation during the 3rd quarter valued at approximately $34,678,000. Allspring Global Investments Holdings LLC increased its holdings in Onto Innovation by 854.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 296,049 shares of the semiconductor company’s stock worth $45,266,000 after purchasing an additional 265,042 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Onto Innovation by 38.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 601,143 shares of the semiconductor company’s stock valued at $76,658,000 after purchasing an additional 166,819 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Stock Up 1.3 %

Shares of ONTO stock opened at $211.34 on Wednesday. The stock has a 50-day simple moving average of $185.05 and a 200 day simple moving average of $160.64. Onto Innovation Inc. has a fifty-two week low of $84.17 and a fifty-two week high of $213.47. The stock has a market capitalization of $10.38 billion, a P/E ratio of 85.91 and a beta of 1.40.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.07. The company had revenue of $219.00 million for the quarter, compared to analysts’ expectations of $209.06 million. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The business’s revenue was down 13.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.57 EPS. On average, sell-side analysts anticipate that Onto Innovation Inc. will post 4.7 earnings per share for the current year.

Insider Activity

In related news, VP Yoon Ah Oh sold 1,685 shares of Onto Innovation stock in a transaction dated 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 owns 14,913 shares of the company’s stock, valued at approximately $2,684,340. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Yoon Ah Oh sold 1,685 shares of the company’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 in the company, valued at approximately $2,684,340. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael P. Plisinski sold 40,000 shares of Onto Innovation stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the transaction, the chief executive officer now owns 235,492 shares in the company, valued at $41,324,136.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,170 shares of company stock worth $8,266,955. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on ONTO shares. Evercore ISI began 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. StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. Stifel Nicolaus boosted their price objective on Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a report on Monday, March 25th. B. Riley increased 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. Finally, Benchmark boosted their price target on Onto Innovation from $145.00 to $180.00 and gave the company a “buy” rating in a report on Friday, February 9th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $191.60.

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.