GAMMA Investing LLC Takes $33,000 Position in Onto Innovation Inc. (NYSE:ONTO)

GAMMA Investing LLC acquired a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) in the fourth quarter, Holdings Channel.com reports. The firm acquired 207 shares of the semiconductor company’s stock, valued at approximately $33,000.

A number of other large investors have also made changes to their positions in ONTO. Fifth Third Bancorp raised its position in Onto Innovation by 198.3% in the fourth quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 115 shares in the last quarter. Contravisory Investment Management Inc. acquired a new position in Onto Innovation in the fourth quarter worth about $28,000. Huntington National Bank raised its position in Onto Innovation by 70.3% in the third quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 102 shares in the last quarter. Operose Advisors LLC acquired a new position in Onto Innovation in the third quarter worth about $49,000. Finally, Lindbrook Capital LLC raised its position in Onto Innovation by 188.5% in the fourth quarter. Lindbrook Capital LLC now owns 577 shares of the semiconductor company’s stock worth $88,000 after purchasing an additional 377 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ONTO shares. B. Riley increased their price target on shares of Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Evercore ISI started coverage on shares of Onto Innovation in a report on Tuesday, April 16th. They set an “outperform” rating and a $235.00 price objective for the company. Stifel Nicolaus raised their price objective on shares of Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, March 25th. Benchmark raised their price objective on shares of Onto Innovation from $145.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Finally, StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Onto Innovation has a consensus rating of “Moderate Buy” and a consensus price target of $191.60.

Onto Innovation Price Performance

Shares of Onto Innovation stock opened at $200.80 on Monday. The firm has a market cap of $9.87 billion, a P/E ratio of 81.63 and a beta of 1.40. The firm has a 50 day simple moving average of $183.87 and a 200 day simple moving average of $159.37. Onto Innovation Inc. has a fifty-two week low of $80.17 and a fifty-two week high of $204.39.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. The business had revenue of $219.00 million during the quarter, compared to analyst estimates of $209.06 million. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. Onto Innovation’s revenue for the quarter was down 13.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.57 earnings per share. On average, sell-side analysts expect that Onto Innovation Inc. will post 4.7 EPS for the current year.

Insider Buying and Selling

In other Onto Innovation news, VP Yoon Ah Oh sold 1,685 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $180.00, for a total transaction of $303,300.00. Following the transaction, the vice president now owns 14,913 shares in the company, valued at $2,684,340. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Michael P. Plisinski sold 40,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were 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 approximately $41,324,136.16. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Yoon Ah Oh sold 1,685 shares of Onto Innovation stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $180.00, for a total value of $303,300.00. Following the transaction, the vice president now owns 14,913 shares in the company, valued at $2,684,340. The disclosure for this sale can be found here. Insiders sold a total of 47,170 shares of company stock valued at $8,266,955 over the last three months. Company insiders own 0.72% of the company’s stock.

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.