Geneva Capital Management LLC Purchases 71,050 Shares of Onto Innovation Inc. (NYSE:ONTO)

Geneva Capital Management LLC boosted its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,010,691 shares of the semiconductor company’s stock after buying an additional 71,050 shares during the period. Onto Innovation accounts for approximately 2.9% of Geneva Capital Management LLC’s portfolio, making the stock its 6th biggest holding. Geneva Capital Management LLC owned about 2.05% of Onto Innovation worth $168,452,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ONTO. Wealth Enhancement Advisory Services LLC increased its position in Onto Innovation by 67.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,733 shares of the semiconductor company’s stock worth $567,000 after buying an additional 1,105 shares during the period. US Bancorp DE increased its holdings in shares of Onto Innovation by 185.4% in the third quarter. US Bancorp DE now owns 12,612 shares of the semiconductor company’s stock valued at $2,618,000 after purchasing an additional 8,193 shares during the period. Stephens Inc. AR increased its holdings in shares of Onto Innovation by 25.8% in the third quarter. Stephens Inc. AR now owns 1,391 shares of the semiconductor company’s stock valued at $289,000 after purchasing an additional 285 shares during the period. Van ECK Associates Corp increased its holdings in shares of Onto Innovation by 28.5% in the third quarter. Van ECK Associates Corp now owns 586 shares of the semiconductor company’s stock valued at $118,000 after purchasing an additional 130 shares during the period. Finally, Asset Management One Co. Ltd. acquired a new position in shares of Onto Innovation in the third quarter valued at approximately $176,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Price Performance

Onto Innovation stock opened at $140.16 on Thursday. Onto Innovation Inc. has a 1-year low of $129.53 and a 1-year high of $238.93. The company has a market cap of $6.91 billion, a PE ratio of 34.52, a price-to-earnings-growth ratio of 0.89 and a beta of 1.31. The stock’s 50 day moving average price is $182.87 and its 200 day moving average price is $186.90.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. On average, equities research analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total transaction of $169,535.00. Following the sale, the senior vice president now directly owns 15,223 shares in the company, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael P. Plisinski sold 35,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total value of $7,671,650.00. Following the completion of the sale, the chief executive officer now owns 150,492 shares in the company, valued at $32,986,341.48. This represents a 18.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,827 shares of company stock worth $18,182,185. 0.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Benchmark reissued a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Oppenheimer dropped their target price on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Finally, Stifel Nicolaus dropped their target price on Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, February 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $246.88.

About Onto Innovation

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.