Proficio Capital Partners LLC Purchases New Stake in Onto Innovation Inc. (NYSE:ONTO)

Proficio Capital Partners LLC acquired a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,510 shares of the semiconductor company’s stock, valued at approximately $252,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Onto Innovation by 52.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,435 shares of the semiconductor company’s stock worth $298,000 after acquiring an additional 493 shares in the last quarter. Cerity Partners LLC lifted its stake in Onto Innovation by 287.0% during the third quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock worth $968,000 after purchasing an additional 3,458 shares during the last quarter. Swedbank AB lifted its stake in Onto Innovation by 32.2% during the third quarter. Swedbank AB now owns 82,500 shares of the semiconductor company’s stock worth $17,124,000 after purchasing an additional 20,100 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in Onto Innovation in the third quarter worth $125,000. Finally, Bank of Montreal Can increased its stake in Onto Innovation by 644.3% during the third quarter. Bank of Montreal Can now owns 50,782 shares of the semiconductor company’s stock valued at $10,937,000 after purchasing an additional 43,959 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Onto Innovation

In related news, SVP Srinivas Vedula sold 827 shares of the firm’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 owns 15,223 shares in the company, valued at $3,120,715. This trade represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael P. Plisinski sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total value of $7,671,650.00. Following the sale, the chief executive officer now directly owns 150,492 shares in the company, valued at approximately $32,986,341.48. The trade was a 18.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,827 shares of company stock worth $18,182,185 over the last ninety days. 0.72% of the stock is currently owned by corporate insiders.

Onto Innovation Trading Down 4.1 %

ONTO opened at $133.13 on Thursday. The business’s 50 day moving average is $168.16 and its 200-day moving average is $179.59. The stock has a market cap of $6.56 billion, a PE ratio of 32.79, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a twelve month low of $121.47 and a twelve month high of $238.93.

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

Analyst Ratings Changes

Several research analysts have recently commented on ONTO shares. Stifel Nicolaus decreased their price target on shares of 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 target price on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Benchmark reissued a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $230.00 price objective 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, Onto Innovation currently has an average rating of “Moderate Buy” and a consensus target price of $246.88.

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.