Cookson Peirce & Co. Inc. Invests $208,000 in Onto Innovation Inc. (NYSE:ONTO)

Cookson Peirce & Co. Inc. purchased a new position in Onto Innovation Inc. (NYSE:ONTO) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,360 shares of the semiconductor company’s stock, valued at approximately $208,000.

Several other hedge funds have also recently modified their holdings of ONTO. Fifth Third Bancorp increased its position in Onto Innovation by 198.3% during the fourth quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 115 shares during the last quarter. Contravisory Investment Management Inc. purchased a new stake in Onto Innovation during the fourth quarter valued at $28,000. Huntington National Bank increased its position in Onto Innovation by 70.3% during the third quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 102 shares during the last quarter. Operose Advisors LLC purchased a new stake in Onto Innovation during the third quarter valued at $49,000. Finally, Public Employees Retirement System of Ohio increased its position in Onto Innovation by 51.3% during the third quarter. Public Employees Retirement System of Ohio now owns 516 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insider Activity at Onto Innovation

In related news, Director David Brian Miller sold 2,800 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total transaction of $477,372.00. Following the completion of the transaction, the director now directly owns 9,008 shares of the company’s stock, valued at $1,535,773.92. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director David Brian Miller sold 2,800 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total transaction of $477,372.00. Following the completion of the transaction, the director now directly owns 9,008 shares of the company’s stock, valued at $1,535,773.92. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Yoon Ah Oh sold 1,685 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $180.00, for a total value of $303,300.00. Following the transaction, the vice president now directly owns 14,913 shares of the company’s stock, valued at $2,684,340. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,170 shares of company stock valued at $8,266,955. Insiders own 0.72% of the company’s stock.

Onto Innovation Stock Down 4.0 %

NYSE ONTO opened at $182.06 on Thursday. The firm has a market cap of $8.94 billion, a price-to-earnings ratio of 74.01 and a beta of 1.40. The business has a 50-day moving average price of $181.76 and a 200-day moving average price of $154.93. Onto Innovation Inc. has a twelve month low of $76.40 and a twelve month high of $199.72.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The firm had revenue of $219.00 million during the quarter, compared to analyst estimates of $209.06 million. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The business’s quarterly revenue was down 13.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.57 earnings per share. Research analysts expect that Onto Innovation Inc. will post 4.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ONTO shares. StockNews.com upgraded Onto Innovation from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. Stifel Nicolaus boosted their price target on Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a report on Monday, March 25th. Evercore ISI assumed coverage on Onto Innovation in a report on Tuesday. They set an “outperform” rating and a $235.00 price target for the company. B. Riley boosted their price target on Onto Innovation from $195.00 to $205.00 and gave the company a “buy” rating in a report on Friday, February 9th. Finally, Benchmark boosted their price target on Onto Innovation from $145.00 to $180.00 and gave the company a “buy” rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Onto Innovation presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.60.

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.