Onto Innovation Inc. (NYSE:ONTO) Shares Purchased by LPL Financial LLC

LPL Financial LLC boosted its stake in Onto Innovation Inc. (NYSE:ONTO) by 14.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 27,352 shares of the semiconductor company’s stock after acquiring an additional 3,463 shares during the quarter. LPL Financial LLC owned 0.06% of Onto Innovation worth $3,186,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in ONTO. Price T Rowe Associates Inc. MD grew its stake in Onto Innovation by 55.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,666,438 shares of the semiconductor company’s stock valued at $116,217,000 after acquiring an additional 592,920 shares during the period. Norges Bank purchased a new position in Onto Innovation in the 4th quarter valued at $33,441,000. Envestnet Asset Management Inc. lifted its holdings in Onto Innovation by 572.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 527,016 shares of the semiconductor company’s stock valued at $6,392,000 after purchasing an additional 448,591 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Onto Innovation by 35.9% in the 1st quarter. Franklin Resources Inc. now owns 1,617,760 shares of the semiconductor company’s stock valued at $142,169,000 after purchasing an additional 427,056 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in Onto Innovation in the 1st quarter valued at $26,541,000. Institutional investors and hedge funds own 94.78% of the company’s stock.

Onto Innovation Stock Performance

Shares of Onto Innovation stock opened at $120.56 on Wednesday. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of 34.54 and a beta of 1.35. Onto Innovation Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $147.71. The stock has a 50 day moving average of $126.35 and a 200 day moving average of $112.89.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, August 10th. The semiconductor company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.04). Onto Innovation had a net margin of 19.32% and a return on equity of 14.20%. The business had revenue of $190.66 million during the quarter, compared to analyst estimates of $203.00 million. During the same quarter in the prior year, the business earned $1.28 earnings per share. The firm’s quarterly revenue was down 25.6% on a year-over-year basis. Analysts forecast that Onto Innovation Inc. will post 3.64 EPS for the current year.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,469 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $137.00, for a total value of $201,253.00. Following the sale, the senior vice president now directly owns 17,976 shares in the company, valued at $2,462,712. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Srinivas Vedula sold 1,469 shares of Onto Innovation stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $137.00, for a total transaction of $201,253.00. Following the sale, the senior vice president now owns 17,976 shares in the company, valued at $2,462,712. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Robert Fiordalice sold 7,049 shares of Onto Innovation stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $125.19, for a total value of $882,464.31. Following the sale, the senior vice president now owns 6,477 shares in the company, valued at approximately $810,855.63. The disclosure for this sale can be found here. Insiders have sold a total of 42,523 shares of company stock worth $4,958,113 over the last ninety days. Corporate insiders own 0.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ONTO shares. Stifel Nicolaus raised their price objective on Onto Innovation from $124.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. Benchmark raised their price objective on Onto Innovation from $118.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 11th. StockNews.com started coverage on Onto Innovation in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, B. Riley raised their price objective on Onto Innovation from $135.00 to $140.00 in a report on Monday, July 17th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $118.33.

About Onto Innovation

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs macro defect inspection and 2D/3D optical metrology, lithography systems, and process control analytical software worldwide. It 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; and process control software portfolio that includes solutions for standalone tools, groups of tools, and enterprise-or factory-wide suites.