Emerald Mutual Fund Advisers Trust boosted its position in Onto Innovation Inc. (NYSE:ONTO) by 46.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 482,209 shares of the semiconductor company’s stock after purchasing an additional 152,729 shares during the quarter. Emerald Mutual Fund Advisers Trust owned approximately 0.99% of Onto Innovation worth $22,929,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. bought a new position in Onto Innovation in the third quarter worth about $27,000. First Quadrant L P CA purchased a new stake in shares of Onto Innovation during the third quarter worth about $35,000. Trust Co. of Vermont purchased a new stake in shares of Onto Innovation during the third quarter worth about $40,000. Great West Life Assurance Co. Can purchased a new stake in shares of Onto Innovation during the third quarter worth about $61,000. Finally, Bollard Group LLC purchased a new stake in shares of Onto Innovation during the third quarter worth about $65,000. Institutional investors and hedge funds own 91.49% of the company’s stock.
Shares of NYSE:ONTO opened at $57.31 on Tuesday. Onto Innovation Inc. has a 12-month low of $20.32 and a 12-month high of $59.87. The company has a market capitalization of $2.80 billion, a PE ratio of -301.63 and a beta of 1.28. The business has a 50 day moving average of $51.74 and a two-hundred day moving average of $43.35.
Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Monday, November 2nd. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.07. Onto Innovation had a positive return on equity of 6.32% and a negative net margin of 1.27%. The company had revenue of $126.49 million during the quarter, compared to the consensus estimate of $127.70 million. On average, equities research analysts anticipate that Onto Innovation Inc. will post 1.81 EPS for the current year.
A number of equities research analysts recently commented on ONTO shares. Zacks Investment Research lowered Onto Innovation from a “buy” rating to a “hold” rating and set a $57.00 target price on the stock. in a research report on Monday. B. Riley upped their target price on Onto Innovation from $59.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, January 25th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Onto Innovation currently has an average rating of “Buy” and a consensus price target of $50.80.
In other news, CFO Steven R. Roth sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, January 11th. The stock was sold at an average price of $50.64, for a total transaction of $506,400.00. Following the completion of the transaction, the chief financial officer now directly owns 41,984 shares of the company’s stock, valued at approximately $2,126,069.76. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Bruce C. Rhine sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $37.12, for a total value of $3,712,000.00. Following the transaction, the director now directly owns 501,549 shares of the company’s stock, valued at $18,617,498.88. The disclosure for this sale can be found here. Insiders sold 138,587 shares of company stock valued at $5,501,684 over the last three months. 3.30% of the stock is currently owned by corporate insiders.
Onto Innovation Company Profile
Onto Innovation Inc designs, develops, manufactures, and supports process control tools that performs macro-defect inspection and metrology, lithography systems, and process control analytical software used by semiconductor and advanced packaging device manufacturers worldwide. The company offers process and yield management solutions used in bare silicon wafer production and processing facilities, and device packaging and test facilities through standalone systems for macro-defect inspection, packaging lithography, probe card test and analysis, and transparent and opaque thin film measurements.
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