Hennion & Walsh Asset Management Inc. Has $1.18 Million Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Hennion & Walsh Asset Management Inc. boosted its stake in Onto Innovation Inc. (NYSE:ONTO) by 22.1% in the fourth quarter, Holdings Channel reports. The firm owned 7,051 shares of the semiconductor company’s stock after purchasing an additional 1,276 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Onto Innovation were worth $1,175,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Millennium Management LLC boosted its holdings in shares of Onto Innovation by 304.9% in the 2nd quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company’s stock valued at $98,329,000 after purchasing an additional 337,250 shares in the last quarter. Congress Asset Management Co. boosted its stake in Onto Innovation by 38.1% in the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock valued at $222,670,000 after buying an additional 295,869 shares in the last quarter. Citigroup Inc. boosted its stake in Onto Innovation by 811.7% in the third quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company’s stock valued at $66,236,000 after buying an additional 284,115 shares in the last quarter. JPMorgan Chase & Co. raised its stake 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 acquiring an additional 228,800 shares in the last quarter. Finally, Barclays PLC raised its stake in Onto Innovation by 1,296.7% during the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock worth $45,079,000 after acquiring an additional 201,640 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ONTO shares. Cantor Fitzgerald began coverage on shares of Onto Innovation in a report on Monday, January 13th. They set an “overweight” rating and a $250.00 price target on the stock. Benchmark reaffirmed a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, November 1st. Needham & Company LLC dropped their price target on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Oppenheimer restated an “outperform” rating and set a $275.00 price objective on shares of Onto Innovation in a research report on Tuesday, December 17th. Finally, Jefferies Financial Group lowered their target price on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $253.75.

Insider Transactions at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was 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 approximately $3,120,715. This represents a 5.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael P. Plisinski sold 20,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 215,492 shares of the company’s stock, valued at approximately $43,139,343.48. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Onto Innovation Trading Up 1.6 %

NYSE ONTO opened at $216.52 on Monday. The firm has a market capitalization of $10.69 billion, a PE ratio of 58.68, a price-to-earnings-growth ratio of 0.98 and a beta of 1.29. The business’s 50-day moving average price is $174.06 and its two-hundred day moving average price is $191.72. 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 earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.31 by $0.03. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The business had revenue of $252.20 million for the quarter, compared to analysts’ expectations of $250.85 million. During the same period in the prior year, the business posted $0.96 earnings per share. The firm’s revenue was up 21.7% on a year-over-year basis. As a group, analysts forecast that Onto Innovation Inc. will post 5.22 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.