Zweig DiMenna Associates LLC Purchases 182 Shares of Onto Innovation Inc. (NYSE:ONTO)

Zweig DiMenna Associates LLC lifted its position in Onto Innovation Inc. (NYSE:ONTO) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,400 shares of the semiconductor company’s stock after buying an additional 182 shares during the quarter. Zweig DiMenna Associates LLC’s holdings in Onto Innovation were worth $4,567,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. JPMorgan Chase & Co. lifted its position in Onto Innovation by 12.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after acquiring an additional 228,800 shares during the last quarter. State Street Corp increased its stake in shares of Onto Innovation by 2.8% in the third quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company’s stock worth $305,107,000 after purchasing an additional 39,367 shares during the period. Franklin Resources Inc. lifted its position in shares of Onto Innovation by 4.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company’s stock worth $288,320,000 after purchasing an additional 54,868 shares during the last quarter. Congress Asset Management Co. boosted its stake in Onto Innovation by 38.1% during the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock valued at $222,670,000 after purchasing an additional 295,869 shares during the period. Finally, Geneva Capital Management LLC grew its holdings in Onto Innovation by 2.6% in the 3rd quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company’s stock valued at $195,032,000 after buying an additional 23,628 shares during the last quarter. 98.35% of the stock is owned by institutional investors.

Insider Activity at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction of $169,535.00. Following the sale, the senior vice president now directly owns 15,223 shares of the company’s stock, valued at approximately $3,120,715. This represents a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael P. Plisinski sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the sale, the chief executive officer now directly owns 215,492 shares of the company’s stock, valued at approximately $43,139,343.48. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,827 shares of company stock valued at $18,182,185 in the last 90 days. 0.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ONTO has been the subject of a number of research analyst reports. Cantor Fitzgerald initiated coverage on Onto Innovation in a report on Monday, January 13th. They set an “overweight” rating and a $250.00 price target for the company. Needham & Company LLC cut their target price on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Oppenheimer restated an “outperform” rating and issued a $275.00 price target on shares of Onto Innovation in a research report on Tuesday, December 17th. Benchmark restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, November 1st. Finally, Jefferies Financial Group reduced their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Onto Innovation currently has a consensus rating of “Moderate Buy” and an average price target of $253.75.

Onto Innovation Stock Performance

NYSE:ONTO opened at $217.11 on Friday. The company has a 50-day moving average of $176.99 and a 200-day moving average of $191.81. Onto Innovation Inc. has a 52 week low of $145.15 and a 52 week high of $238.93. The company has a market capitalization of $10.72 billion, a price-to-earnings ratio of 58.57, a PEG ratio of 1.16 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The firm had revenue of $252.20 million during the quarter, compared to analysts’ expectations of $250.85 million. During the same quarter last year, the company earned $0.96 earnings per share. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. Sell-side analysts forecast that Onto Innovation Inc. will post 5.22 EPS for the current year.

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.