Tributary Capital Management LLC Buys 3,074 Shares of Onto Innovation Inc. (NYSE:ONTO)

Tributary Capital Management LLC boosted its position in Onto Innovation Inc. (NYSE:ONTO) by 101.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,091 shares of the semiconductor company’s stock after acquiring an additional 3,074 shares during the quarter. Tributary Capital Management LLC’s holdings in Onto Innovation were worth $1,015,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of Onto Innovation by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock valued at $416,863,000 after acquiring an additional 228,800 shares in the last quarter. State Street Corp raised its holdings in Onto Innovation by 2.8% during the third quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company’s stock worth $305,107,000 after buying an additional 39,367 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Onto Innovation by 4.5% in the third quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company’s stock valued at $288,320,000 after buying an additional 54,868 shares in the last quarter. Congress Asset Management Co. grew its holdings in shares of Onto Innovation by 38.1% during the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock valued at $222,670,000 after buying an additional 295,869 shares during the last quarter. Finally, Geneva Capital Management LLC grew its holdings in shares of Onto Innovation by 2.6% during the third 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 and hedge funds.

Insider Buying and Selling at Onto Innovation

In related news, SVP Srinivas Vedula sold 827 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $3,120,715. This represents a 5.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael P. Plisinski sold 20,000 shares of Onto Innovation stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the completion of the transaction, the chief executive officer now owns 215,492 shares of the company’s stock, valued at $43,139,343.48. This represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,827 shares of company stock valued at $18,182,185. Company insiders own 0.72% of the company’s stock.

Onto Innovation Stock Performance

Shares of NYSE:ONTO opened at $213.26 on Friday. Onto Innovation Inc. has a fifty-two week low of $145.15 and a fifty-two week high of $238.93. The company’s 50-day moving average is $178.03 and its 200 day moving average is $191.98. The company has a market capitalization of $10.53 billion, a P/E ratio of 57.79, a price-to-earnings-growth ratio of 1.16 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $250.85 million. During the same period in the previous year, the company earned $0.96 earnings per share. The company’s quarterly revenue was up 21.7% on a year-over-year basis. As a group, research analysts predict that Onto Innovation Inc. will post 5.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ONTO. Oppenheimer reaffirmed 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 issued a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. Needham & Company LLC cut their target price on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Cantor Fitzgerald assumed coverage on Onto Innovation in a research report on Monday, January 13th. They issued an “overweight” rating and a $250.00 price target for the company. Finally, Jefferies Financial Group cut their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Onto Innovation currently has a consensus rating of “Moderate Buy” and an average target price of $253.75.

Onto Innovation Company 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.