Peterson Wealth Services Acquires New Holdings in Onto Innovation Inc. (NYSE:ONTO)

Peterson Wealth Services acquired a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,470 shares of the semiconductor company’s stock, valued at approximately $225,000.

Other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted 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 purchasing an additional 115 shares in the last quarter. Contravisory Investment Management Inc. acquired a new stake in Onto Innovation in the fourth quarter worth about $28,000. Huntington National Bank boosted its holdings in Onto Innovation by 70.3% in the third quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 102 shares in the last quarter. Operose Advisors LLC acquired a new stake in Onto Innovation in the third quarter worth about $49,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in Onto Innovation by 51.3% in the third quarter. Public Employees Retirement System of Ohio now owns 516 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 175 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Price Performance

ONTO stock traded down $0.98 during trading on Thursday, hitting $180.96. 102,486 shares of the company traded hands, compared to its average volume of 408,113. The stock’s 50-day simple moving average is $181.76 and its 200 day simple moving average is $154.93. The company has a market cap of $8.89 billion, a PE ratio of 74.01 and a beta of 1.40. Onto Innovation Inc. has a 1 year low of $76.40 and a 1 year high of $199.72.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.07. The company had revenue of $219.00 million during the quarter, compared to analysts’ expectations of $209.06 million. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. Onto Innovation’s quarterly revenue was down 13.5% on a year-over-year basis. During the same period last year, the business earned $1.57 earnings per share. Research analysts expect that Onto Innovation Inc. will post 4.7 earnings per share for the current year.

Wall Street Analyst Weigh In

ONTO has been the subject of several recent analyst reports. Benchmark raised their price target on Onto Innovation from $145.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, February 9th. B. Riley raised their price target on Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Evercore ISI initiated coverage on Onto Innovation in a report on Tuesday. They issued an “outperform” rating and a $235.00 price target for the company. Stifel Nicolaus raised their price target on Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, March 25th. Finally, StockNews.com upgraded Onto Innovation from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $191.60.

Insider Activity at Onto Innovation

In other news, Director David Brian Miller sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total value of $477,372.00. Following the completion of the sale, the director now directly owns 9,008 shares in the company, valued at $1,535,773.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Michael P. Plisinski sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total value of $7,019,200.00. Following the completion of the sale, the chief executive officer now directly owns 235,492 shares in the company, valued at $41,324,136.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Brian Miller sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total value of $477,372.00. Following the completion of the sale, the director now owns 9,008 shares of the company’s stock, valued at $1,535,773.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,170 shares of company stock worth $8,266,955. 0.72% of the stock is owned by corporate insiders.

Onto Innovation 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.