Trust Point Inc. Has $852,000 Stake in Onto Innovation Inc. (NYSE:ONTO)

Trust Point Inc. grew its stake in Onto Innovation Inc. (NYSE:ONTO) by 34.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,114 shares of the semiconductor company’s stock after purchasing an additional 1,316 shares during the period. Trust Point Inc.’s holdings in Onto Innovation were worth $852,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ONTO. JPMorgan Chase & Co. raised its position in Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock valued at $416,863,000 after purchasing an additional 228,800 shares during the last quarter. State Street Corp increased its stake in shares of Onto Innovation by 2.8% in the third quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company’s stock valued at $305,107,000 after buying an additional 39,367 shares during the period. Franklin Resources Inc. raised its holdings in Onto Innovation by 4.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company’s stock valued at $288,320,000 after buying an additional 54,868 shares during the last quarter. Congress Asset Management Co. boosted its position in Onto Innovation by 38.1% during the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after buying an additional 295,869 shares during the period. Finally, Geneva Capital Management LLC grew its holdings in Onto Innovation by 2.6% during the 3rd quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company’s stock worth $195,032,000 after acquiring an additional 23,628 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Michael P. Plisinski sold 35,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 150,492 shares in the company, valued at $32,986,341.48. This trade represents a 18.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Srinivas Vedula sold 827 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 15,223 shares in the company, 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. Insiders sold 85,827 shares of company stock worth $18,182,185 in the last quarter. 0.72% of the stock is owned by corporate insiders.

Onto Innovation Price Performance

NYSE ONTO opened at $200.94 on Wednesday. The stock has a market capitalization of $9.92 billion, a P/E ratio of 54.45, a P/E/G ratio of 1.06 and a beta of 1.31. The business has a 50 day simple moving average of $182.80 and a 200 day simple moving average of $190.07. Onto Innovation Inc. has a one year low of $145.15 and a one year high of $238.93.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ONTO. Oppenheimer reiterated an “outperform” rating and set a $275.00 price target on shares of Onto Innovation in a report on Tuesday, December 17th. Cantor Fitzgerald initiated coverage on Onto Innovation in a report on Monday, January 13th. They set an “overweight” rating and a $250.00 target price on the stock. Jefferies Financial Group decreased their price target on 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 price objective 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. Finally, Benchmark reissued a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $253.75.

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.