Charles Schwab Investment Management Inc. Has $56.90 Million Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Charles Schwab Investment Management Inc. increased its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 1.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 341,386 shares of the semiconductor company’s stock after buying an additional 4,164 shares during the period. Charles Schwab Investment Management Inc. owned 0.69% of Onto Innovation worth $56,899,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Van ECK Associates Corp boosted its holdings in shares of Onto Innovation by 28.5% during the third quarter. Van ECK Associates Corp now owns 586 shares of the semiconductor company’s stock worth $118,000 after acquiring an additional 130 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in shares of Onto Innovation by 25.3% during the third quarter. Crossmark Global Holdings Inc. now owns 3,805 shares of the semiconductor company’s stock worth $790,000 after acquiring an additional 769 shares during the period. Versor Investments LP boosted its holdings in shares of Onto Innovation by 266.7% during the third quarter. Versor Investments LP now owns 4,400 shares of the semiconductor company’s stock worth $913,000 after acquiring an additional 3,200 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Onto Innovation during the third quarter worth approximately $1,426,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Onto Innovation during the third quarter worth approximately $478,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Stifel Nicolaus reduced their price objective on Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a report on Friday, February 7th. Oppenheimer cut their price target on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. StockNews.com upgraded Onto Innovation from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Onto Innovation presently has a consensus rating of “Moderate Buy” and a consensus target price of $246.88.

Onto Innovation Price Performance

NYSE ONTO opened at $134.00 on Thursday. The business has a fifty day moving average price of $178.96 and a two-hundred day moving average price of $184.01. Onto Innovation Inc. has a fifty-two week low of $121.47 and a fifty-two week high of $238.93. The stock has a market capitalization of $6.60 billion, a PE ratio of 33.01, a PEG ratio of 0.89 and a beta of 1.29.

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

Insiders Place Their Bets

In other news, SVP Srinivas Vedula sold 827 shares of the company’s stock in a transaction 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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael P. Plisinski sold 35,000 shares of the company’s 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 transaction, the chief executive officer now owns 150,492 shares of the company’s stock, valued at $32,986,341.48. This trade represents a 18.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,827 shares of company stock worth $18,182,185 over the last three months. Insiders own 0.72% of the company’s stock.

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.