Pacer Advisors Inc. Acquires 11,086 Shares of Onto Innovation Inc. (NYSE:ONTO)

Pacer Advisors Inc. raised its holdings in Onto Innovation Inc. (NYSE:ONTO) by 104.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,672 shares of the semiconductor company’s stock after buying an additional 11,086 shares during the period. Pacer Advisors Inc.’s holdings in Onto Innovation were worth $3,612,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Quarry LP increased its position in shares of Onto Innovation by 232.4% in the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 79 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Onto Innovation by 675.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 108 shares during the period. Versant Capital Management Inc increased its position in Onto Innovation by 532.4% during the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after buying an additional 197 shares during the last quarter. Berbice Capital Management LLC bought a new stake in Onto Innovation in the fourth quarter valued at approximately $50,000. Finally, Eastern Bank bought a new position in shares of Onto Innovation during the 3rd quarter worth approximately $65,000. 98.35% of the stock is owned by institutional investors.

Insider Activity at Onto Innovation

In other news, CEO Michael P. Plisinski sold 20,000 shares of Onto Innovation stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Srinivas Vedula sold 827 shares of the company’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 completion of the transaction, the senior vice president now owns 15,223 shares of the company’s stock, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,827 shares of company stock valued at $18,182,185. 0.72% of the stock is owned by insiders.

Analyst Ratings Changes

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

Onto Innovation Trading Up 7.0 %

Shares of Onto Innovation stock opened at $205.25 on Friday. The company has a 50 day moving average of $180.57 and a 200-day moving average of $190.62. The company has a market cap of $10.14 billion, a PE ratio of 55.62, a price-to-earnings-growth ratio of 1.16 and a beta of 1.29. Onto Innovation Inc. has a 1-year low of $145.15 and a 1-year high of $238.93.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.03. The business 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%. Onto Innovation’s revenue was up 21.7% compared to the same quarter last year. During the same period last year, the firm posted $0.96 earnings per share. Research analysts forecast that Onto Innovation Inc. will post 5.22 earnings per share for the current 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.