Prudential Financial Inc. Boosts Holdings in Onto Innovation Inc. (NYSE:ONTO)

Prudential Financial Inc. grew its position in Onto Innovation Inc. (NYSE:ONTO) by 12.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 330,584 shares of the semiconductor company’s stock after purchasing an additional 35,307 shares during the period. Prudential Financial Inc.’s holdings in Onto Innovation were worth $55,098,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Kestra Investment Management LLC purchased a new stake in Onto Innovation in the fourth quarter valued at about $26,000. Mather Group LLC. raised its position in shares of Onto Innovation by 209.4% in the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 111 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Onto Innovation by 532.4% in the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 197 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Onto Innovation in the 4th quarter worth approximately $43,000. Finally, Berbice Capital Management LLC purchased a new stake in Onto Innovation during the 4th quarter worth approximately $50,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Buying and Selling at Onto Innovation

In related news, CEO Michael P. Plisinski sold 30,000 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $211.24, for a total value of $6,337,200.00. Following the completion of the sale, the chief executive officer now owns 185,492 shares of the company’s stock, valued at approximately $39,183,330.08. The trade was a 13.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the 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 transaction, the senior vice president now directly owns 15,223 shares in the company, valued at approximately $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. Over the last quarter, insiders sold 85,827 shares of company stock valued at $18,182,185. Corporate insiders own 0.72% of the company’s stock.

Onto Innovation Stock Up 3.9 %

Onto Innovation stock opened at $140.87 on Tuesday. Onto Innovation Inc. has a 52 week low of $121.47 and a 52 week high of $238.93. The firm has a market cap of $6.94 billion, a price-to-earnings ratio of 34.70, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. The business’s 50-day moving average price is $170.88 and its 200 day moving average price is $180.19.

Onto Innovation (NYSE:ONTO) last posted 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 net margin of 20.43% and a return on equity of 14.24%. Equities analysts expect that Onto Innovation Inc. will post 6.26 EPS 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.