South Street Advisors LLC Has $14.88 Million Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

South Street Advisors LLC raised its stake in Onto Innovation Inc. (NYSE:ONTO) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 89,292 shares of the semiconductor company’s stock after buying an additional 742 shares during the quarter. Onto Innovation accounts for about 2.3% of South Street Advisors LLC’s holdings, making the stock its 19th biggest position. South Street Advisors LLC’s holdings in Onto Innovation were worth $14,882,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in ONTO. JPMorgan Chase & Co. grew 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. State Street Corp grew its position in Onto Innovation by 2.8% in the third quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company’s stock worth $305,107,000 after acquiring an additional 39,367 shares in the last quarter. Franklin Resources Inc. grew its position in Onto Innovation by 4.5% in the third quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company’s stock worth $288,320,000 after acquiring an additional 54,868 shares in the last quarter. Geneva Capital Management LLC grew its position in Onto Innovation by 7.6% in the fourth quarter. Geneva Capital Management LLC now owns 1,010,691 shares of the semiconductor company’s stock worth $168,452,000 after acquiring an additional 71,050 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Onto Innovation by 1.6% in the third quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company’s stock worth $173,401,000 after acquiring an additional 13,405 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Insider Transactions at Onto Innovation

In related news, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation stock in a transaction dated Tuesday, January 21st. The shares were 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 directly owns 150,492 shares of the company’s stock, valued at $32,986,341.48. This trade represents a 18.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction of $169,535.00. Following the transaction, the senior vice president now directly owns 15,223 shares of the company’s stock, 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. In the last three months, insiders sold 85,827 shares of company stock valued at $18,182,185. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ONTO shares. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Benchmark reiterated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Stifel Nicolaus lowered their target price on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $246.88.

Onto Innovation Price Performance

NYSE ONTO opened at $138.05 on Tuesday. The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of 34.00, a P/E/G ratio of 0.89 and a beta of 1.29. The company’s fifty day moving average is $176.31 and its two-hundred day moving average is $182.32. Onto Innovation Inc. has a 52-week low of $121.47 and a 52-week high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts expect that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal 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.