Onto Innovation Inc. (NYSE:ONTO) Shares Purchased by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC raised its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,400 shares of the semiconductor company’s stock after acquiring an additional 182 shares during the period. Zweig DiMenna Associates LLC owned approximately 0.06% of Onto Innovation worth $4,567,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ONTO. Millennium Management LLC boosted its stake in Onto Innovation by 304.9% during the 2nd quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company’s stock valued at $98,329,000 after purchasing an additional 337,250 shares in the last quarter. Congress Asset Management Co. grew its holdings in Onto Innovation by 38.1% during the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after acquiring an additional 295,869 shares during the period. Citigroup Inc. grew its holdings in Onto Innovation by 811.7% during the third quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company’s stock worth $66,236,000 after acquiring an additional 284,115 shares during the period. JPMorgan Chase & Co. raised its position in Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after acquiring an additional 228,800 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Onto Innovation by 1,296.7% in the 3rd quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock valued at $45,079,000 after acquiring an additional 201,640 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

ONTO has been the topic of a number of research reports. Jefferies Financial Group dropped their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Needham & Company LLC dropped their price target on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Benchmark reissued a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, November 1st. Cantor Fitzgerald assumed coverage on Onto Innovation in a research report on Monday, January 13th. They set an “overweight” rating and a $250.00 target price on the stock. Finally, Oppenheimer reiterated an “outperform” rating and issued a $275.00 price target on shares of Onto Innovation in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $253.75.

Insider Transactions at Onto Innovation

In related news, CEO Michael P. Plisinski sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was 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 of the company’s stock, valued at approximately $32,986,341.48. The trade was a 18.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Srinivas Vedula sold 827 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the transaction, the senior vice president now owns 15,223 shares in the company, valued at $3,120,715. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,827 shares of company stock valued at $18,182,185. 0.72% of the stock is owned by insiders.

Onto Innovation Trading Up 0.0 %

Shares of NYSE ONTO opened at $217.11 on Friday. Onto Innovation Inc. has a one year low of $145.15 and a one year high of $238.93. The business has a 50-day moving average price of $176.99 and a two-hundred day moving average price of $191.81. The firm has a market capitalization of $10.72 billion, a PE ratio of 58.57, a PEG ratio of 1.16 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The business had revenue of $252.20 million during the quarter, compared to analysts’ expectations of $250.85 million. During the same period last year, the company posted $0.96 earnings per share. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. Research analysts anticipate that Onto Innovation Inc. will post 5.22 EPS for the current year.

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.