Onto Innovation Inc. (NYSE:ONTO) Shares Purchased by National Bank of Canada FI

National Bank of Canada FI grew its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 631.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 90,000 shares of the semiconductor company’s stock after purchasing an additional 77,700 shares during the quarter. National Bank of Canada FI’s holdings in Onto Innovation were worth $15,000,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. raised its position in shares of Onto Innovation by 21.2% during the fourth quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company’s stock worth $258,883,000 after purchasing an additional 271,470 shares during the period. Pictet Asset Management Holding SA raised its holdings in Onto Innovation by 11.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,953 shares of the semiconductor company’s stock worth $1,159,000 after buying an additional 728 shares during the period. Norges Bank purchased a new stake in Onto Innovation during the fourth quarter valued at about $87,987,000. JPMorgan Chase & Co. boosted its holdings in shares of Onto Innovation by 9.2% in the fourth quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company’s stock worth $365,380,000 after buying an additional 183,839 shares during the period. Finally, Artisan Partners Limited Partnership increased its position in shares of Onto Innovation by 41.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company’s stock worth $252,530,000 after acquiring an additional 444,860 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Insider Buying and Selling

In other Onto Innovation news, CEO Michael P. Plisinski sold 20,000 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the completion of the transaction, the chief executive officer now directly owns 215,492 shares in the company, valued at $43,139,343.48. This represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction of $169,535.00. Following the sale, the senior vice president now owns 15,223 shares of the company’s stock, valued at $3,120,715. This trade represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 85,827 shares of company stock valued at $18,182,185 over the last ninety days. 0.72% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Jefferies Financial Group dropped their price target on Onto Innovation from $245.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Benchmark restated a “buy” rating and set a $230.00 price objective 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. Finally, Stifel Nicolaus set a $200.00 price target on shares of Onto Innovation and gave the stock a “buy” rating in a report on Friday, March 28th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.88.

Onto Innovation Stock Performance

NYSE:ONTO opened at $104.63 on Friday. The firm’s 50-day moving average is $154.44 and its 200-day moving average is $176.24. The company has a market cap of $5.16 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a 52-week low of $98.21 and a 52-week high of $238.93.

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