Peterson Wealth Services Takes $225,000 Position in Onto Innovation Inc. (NYSE:ONTO)

Peterson Wealth Services bought a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,470 shares of the semiconductor company’s stock, valued at approximately $225,000.

Other institutional investors also recently made changes to their positions in the company. Fifth Third Bancorp grew its holdings in Onto Innovation by 198.3% in the 4th quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock worth $26,000 after buying an additional 115 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in Onto Innovation in the 4th quarter worth approximately $28,000. Huntington National Bank grew its holdings in Onto Innovation by 70.3% in the 3rd quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock worth $31,000 after buying an additional 102 shares in the last quarter. Operose Advisors LLC bought a new position in Onto Innovation in the 3rd quarter worth approximately $49,000. Finally, Public Employees Retirement System of Ohio grew its holdings in Onto Innovation by 51.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 516 shares of the semiconductor company’s stock worth $33,000 after buying an additional 175 shares in the last quarter. 98.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, VP Yoon Ah Oh sold 1,685 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $180.00, for a total transaction of $303,300.00. Following the completion of the sale, the vice president now owns 14,913 shares in the company, valued at approximately $2,684,340. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Michael P. Plisinski sold 40,000 shares of the stock in a transaction 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 owns 235,492 shares in the company, valued at $41,324,136.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Yoon Ah Oh sold 1,685 shares of the stock in a transaction 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 completion of the sale, the vice president now owns 14,913 shares of the company’s stock, valued at approximately $2,684,340. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,170 shares of company stock worth $8,266,955. Insiders own 0.72% of the company’s stock.

Onto Innovation Price Performance

Shares of NYSE:ONTO traded down $0.98 on Thursday, reaching $180.96. 102,486 shares of the company traded hands, compared to its average volume of 408,113. Onto Innovation Inc. has a fifty-two week low of $76.40 and a fifty-two week high of $199.72. The company’s 50 day moving average is $181.76 and its 200-day moving average is $154.93. The stock has a market capitalization of $8.89 billion, a PE ratio of 74.01 and a beta of 1.40.

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

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.