Zions Bancorporation N.A. Grows Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Zions Bancorporation N.A. grew its stake in Onto Innovation Inc. (NYSE:ONTO) by 35.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,760 shares of the semiconductor company’s stock after purchasing an additional 5,430 shares during the period. Zions Bancorporation N.A.’s holdings in Onto Innovation were worth $3,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in ONTO. Kestra Investment Management LLC acquired a new stake in shares of Onto Innovation in the 4th quarter worth $26,000. Mather Group LLC. increased its position in Onto Innovation by 209.4% during the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 111 shares during the last quarter. 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 purchasing an additional 197 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Onto Innovation during the fourth quarter worth about $43,000. Finally, Berbice Capital Management LLC acquired a new position in Onto Innovation in the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Michael P. Plisinski sold 35,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the completion of the transaction, the chief executive officer now directly owns 150,492 shares of the company’s stock, valued at approximately $32,986,341.48. The trade was a 18.87 % decrease in their ownership of the stock. The sale was disclosed in a filing 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 stock was sold at an average price of $205.00, for a total transaction of $169,535.00. Following the sale, the senior vice president now owns 15,223 shares in the company, 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 sold a total of 85,827 shares of company stock worth $18,182,185 over the last 90 days. Corporate insiders own 0.72% of the company’s stock.

Onto Innovation Price Performance

Shares of Onto Innovation stock opened at $140.87 on Tuesday. The stock has a market capitalization 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 has a 50-day moving average of $170.88 and a 200 day moving average of $180.19. Onto Innovation Inc. has a 12 month low of $121.47 and a 12 month high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 EPS 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 research analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

ONTO has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Benchmark reiterated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Oppenheimer reduced their price objective 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. Finally, Stifel Nicolaus dropped their price target on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, February 7th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.