Hantz Financial Services Inc. Takes $1.67 Million Position in Onto Innovation Inc. (NYSE:ONTO)

Hantz Financial Services Inc. purchased a new position in shares of Onto Innovation Inc. (NYSE:ONTO) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,601 shares of the semiconductor company’s stock, valued at approximately $1,669,000.

A number of other large investors have also recently bought and sold shares of ONTO. GAMMA Investing LLC acquired a new stake in shares of Onto Innovation during the fourth quarter worth about $33,000. Russell Investments Group Ltd. grew its stake in shares of Onto Innovation by 53.0% in the 4th quarter. Russell Investments Group Ltd. now owns 58,567 shares of the semiconductor company’s stock valued at $8,955,000 after purchasing an additional 20,285 shares during the last quarter. New York Life Investment Management LLC increased its holdings in shares of Onto Innovation by 133.8% in the fourth quarter. New York Life Investment Management LLC now owns 9,456 shares of the semiconductor company’s stock valued at $1,446,000 after purchasing an additional 5,411 shares during the period. Natixis Advisors L.P. raised its stake in shares of Onto Innovation by 0.5% during the fourth quarter. Natixis Advisors L.P. now owns 17,473 shares of the semiconductor company’s stock worth $2,671,000 after purchasing an additional 90 shares during the last quarter. Finally, Amalgamated Bank raised its stake in shares of Onto Innovation by 40.1% during the fourth quarter. Amalgamated Bank now owns 30,105 shares of the semiconductor company’s stock worth $4,603,000 after purchasing an additional 8,621 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Trading Up 2.0 %

Shares of ONTO opened at $213.22 on Friday. Onto Innovation Inc. has a twelve month low of $108.98 and a twelve month high of $238.93. The firm has a market capitalization of $10.53 billion, a P/E ratio of 75.88 and a beta of 1.39. The firm’s 50-day moving average is $206.50 and its two-hundred day moving average is $200.46.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.12. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The business had revenue of $242.33 million for the quarter, compared to analysts’ expectations of $235.43 million. During the same quarter in the prior year, the firm posted $0.79 EPS. The company’s revenue was up 27.1% compared to the same quarter last year. Analysts predict that Onto Innovation Inc. will post 5.11 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ONTO. Needham & Company LLC raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. Stifel Nicolaus boosted their price target on shares of Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Evercore ISI increased their price target on shares of Onto Innovation from $235.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 10th. B. Riley lifted their price objective on Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Finally, Jefferies Financial Group began coverage on Onto Innovation in a research report on Monday, May 13th. They set a “buy” rating and a $265.00 target price on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $259.00.

Insider Activity

In other Onto Innovation news, CFO Mark Slicer sold 519 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $221.21, for a total value of $114,807.99. Following the sale, the chief financial officer now owns 12,552 shares of the company’s stock, valued at $2,776,627.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Srinivas Vedula sold 1,486 shares of Onto Innovation stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $213.40, for a total transaction of $317,112.40. Following the completion of the sale, the senior vice president now directly owns 17,433 shares in the company, valued at $3,720,202.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark Slicer sold 519 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $221.21, for a total transaction of $114,807.99. Following the transaction, the chief financial officer now directly owns 12,552 shares in the company, valued at approximately $2,776,627.92. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

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.