Taylor Frigon Capital Management LLC Takes Position in Onto Innovation Inc. (NYSE:ONTO)

Taylor Frigon Capital Management LLC bought a new position in shares of Onto Innovation Inc. (NYSE:ONTO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,566 shares of the semiconductor company’s stock, valued at approximately $1,928,000.

Several other large investors have also recently bought and sold shares of ONTO. Congress Asset Management Co. lifted its stake 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 purchasing an additional 295,869 shares during the last quarter. Citigroup Inc. raised 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 purchasing an additional 284,115 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Onto Innovation by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after purchasing an additional 228,800 shares in the last quarter. Barclays PLC lifted its position in shares of Onto Innovation by 1,296.7% during the 3rd quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock worth $45,079,000 after buying an additional 201,640 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Onto Innovation by 20.5% in the 3rd quarter. FMR LLC now owns 825,682 shares of the semiconductor company’s stock valued at $171,379,000 after buying an additional 140,659 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, CEO Michael P. Plisinski sold 35,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the completion of the transaction, the chief executive officer now owns 150,492 shares of the company’s stock, valued at approximately $32,986,341.48. This trade represents a 18.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Srinivas Vedula sold 827 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 85,827 shares of company stock valued at $18,182,185. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ONTO shares. Stifel Nicolaus decreased their price objective on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, February 7th. 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 downgraded Onto Innovation from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $246.88.

Onto Innovation Trading Up 2.2 %

NYSE ONTO opened at $154.22 on Thursday. The business’s 50 day moving average is $185.91 and its two-hundred day moving average is $189.06. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 37.99, a PEG ratio of 0.89 and a beta of 1.31. Onto Innovation Inc. has a 12-month low of $145.15 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. Equities analysts forecast that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

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.