Assenagon Asset Management S.A. Acquires 12,798 Shares of Onto Innovation Inc. (NYSE:ONTO)

Assenagon Asset Management S.A. boosted its holdings in Onto Innovation Inc. (NYSE:ONTO) by 8.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 159,346 shares of the semiconductor company’s stock after acquiring an additional 12,798 shares during the quarter. Assenagon Asset Management S.A. owned 0.32% of Onto Innovation worth $26,558,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. bought a new position in shares of Onto Innovation in the fourth quarter valued at approximately $2,894,000. Nordea Investment Management AB raised its position in Onto Innovation by 5.1% in the 4th quarter. Nordea Investment Management AB now owns 89,973 shares of the semiconductor company’s stock valued at $15,118,000 after buying an additional 4,389 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in Onto Innovation by 42.7% during the 4th quarter. Central Pacific Bank Trust Division now owns 1,270 shares of the semiconductor company’s stock valued at $212,000 after acquiring an additional 380 shares in the last quarter. Everence Capital Management Inc. bought a new position in Onto Innovation during the 4th quarter valued at $260,000. Finally, Versant Capital Management Inc boosted its holdings in Onto Innovation by 532.4% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 197 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, CEO Michael P. Plisinski sold 20,000 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were 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 owns 215,492 shares of the company’s stock, valued at $43,139,343.48. The trade was a 8.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Srinivas Vedula sold 827 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the transaction, the senior vice president now directly owns 15,223 shares of the company’s stock, 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 own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Benchmark reiterated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. Jefferies Financial Group decreased their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Needham & Company LLC cut their target price on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Cantor Fitzgerald began coverage on Onto Innovation in a report on Monday. They issued an “overweight” rating and a $250.00 target price for the company. Finally, Oppenheimer reissued an “outperform” rating and issued a $275.00 price objective on shares of Onto Innovation in a research report on Tuesday, December 17th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $253.75.

Onto Innovation Trading Up 4.4 %

NYSE:ONTO opened at $213.65 on Friday. The firm’s 50 day moving average is $172.50 and its 200 day moving average is $192.05. Onto Innovation Inc. has a 12 month low of $141.79 and a 12 month high of $238.93. The stock has a market capitalization of $10.55 billion, a PE ratio of 57.90, a price-to-earnings-growth ratio of 0.98 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.03. The firm had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The business’s revenue was up 21.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.96 earnings per share. Research analysts predict that Onto Innovation Inc. will post 5.22 earnings per share 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.