Onto Innovation Inc. (NYSE:ONTO) Shares Purchased by Magnetar Financial LLC

Magnetar Financial LLC raised its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 288.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,997 shares of the semiconductor company’s stock after purchasing an additional 14,105 shares during the period. Magnetar Financial LLC’s holdings in Onto Innovation were worth $3,166,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cerity Partners LLC raised its position in shares of Onto Innovation by 287.0% during the 3rd quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock worth $968,000 after buying an additional 3,458 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Onto Innovation by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company’s stock worth $173,401,000 after buying an additional 13,405 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Onto Innovation by 12.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after buying an additional 228,800 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Onto Innovation by 72.0% during the 3rd quarter. HighTower Advisors LLC now owns 10,184 shares of the semiconductor company’s stock worth $2,095,000 after buying an additional 4,263 shares in the last quarter. Finally, Barclays PLC raised 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 in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Michael P. Plisinski sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $211.24, for a total transaction of $6,337,200.00. Following the transaction, the chief executive officer now directly owns 185,492 shares of the company’s stock, valued at approximately $39,183,330.08. The trade was a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Srinivas Vedula sold 827 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock worth $18,182,185 over the last 90 days. 0.72% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Onto Innovation Price Performance

ONTO stock opened at $137.55 on Friday. Onto Innovation Inc. has a 52-week low of $121.47 and a 52-week high of $238.93. The company’s 50 day simple moving average is $172.97 and its 200-day simple moving average is $181.16. The firm has a market capitalization of $6.78 billion, a P/E ratio of 33.88, a P/E/G ratio of 0.89 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results 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 net margin of 20.43% and a return on equity of 14.24%. Sell-side analysts predict that Onto Innovation Inc. will post 6.26 EPS 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.