Cornerstone Investment Partners LLC Has $611,000 Holdings in Onto Innovation Inc. (NYSE:ONTO)

Cornerstone Investment Partners LLC raised its holdings in Onto Innovation Inc. (NYSE:ONTO) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,663 shares of the semiconductor company’s stock after buying an additional 172 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in Onto Innovation were worth $611,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Kestra Investment Management LLC acquired a new position in shares of Onto Innovation during the fourth quarter worth approximately $26,000. Mather Group LLC. raised its position in shares of Onto Innovation by 209.4% during the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 111 shares during the period. Versant Capital Management Inc raised its position in shares of Onto Innovation by 532.4% during the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 197 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Onto Innovation during the fourth quarter worth approximately $43,000. Finally, Berbice Capital Management LLC acquired a new position in shares of Onto Innovation during the fourth quarter worth approximately $50,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Onto Innovation

In other news, CEO Michael P. Plisinski sold 35,000 shares of the 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 in the company, valued at approximately $32,986,341.48. This represents a 18.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the sale, the senior vice president now directly owns 15,223 shares in the company, valued at $3,120,715. This trade represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 85,827 shares of company stock worth $18,182,185. 0.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ONTO. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Stifel Nicolaus lowered their target price on Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Benchmark reaffirmed a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Oppenheimer lowered their price target on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. One 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $246.88.

Onto Innovation Trading Down 6.6 %

NYSE ONTO opened at $136.10 on Tuesday. The firm has a market capitalization of $6.71 billion, a P/E ratio of 33.52, a PEG ratio of 0.89 and a beta of 1.31. The business has a fifty day simple moving average of $184.27 and a 200 day simple moving average of $187.75. Onto Innovation Inc. has a 12 month low of $133.19 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 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

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.