Onto Innovation Inc. (NYSE:ONTO) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in Onto Innovation Inc. (NYSE:ONTO) by 67.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,733 shares of the semiconductor company’s stock after acquiring an additional 1,105 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Onto Innovation were worth $567,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ONTO. QRG Capital Management Inc. boosted its holdings in Onto Innovation by 2.7% in the second quarter. QRG Capital Management Inc. now owns 1,935 shares of the semiconductor company’s stock valued at $425,000 after purchasing an additional 50 shares during the last quarter. Magnetar Financial LLC lifted its holdings in shares of Onto Innovation by 4.0% in the 2nd quarter. Magnetar Financial LLC now owns 1,622 shares of the semiconductor company’s stock valued at $356,000 after buying an additional 63 shares during the period. Shaker Investments LLC OH boosted its stake in shares of Onto Innovation by 1.7% in the second quarter. Shaker Investments LLC OH now owns 3,928 shares of the semiconductor company’s stock worth $862,000 after buying an additional 64 shares during the last quarter. Quarry LP grew its holdings in Onto Innovation by 232.4% during the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 79 shares during the period. Finally, Hunter Perkins Capital Management LLC raised its position in Onto Innovation by 3.6% during the third quarter. Hunter Perkins Capital Management LLC now owns 2,325 shares of the semiconductor company’s stock valued at $483,000 after acquiring an additional 80 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ONTO shares. Needham & Company LLC lowered their price objective 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. Benchmark reissued a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, November 1st. Stifel Nicolaus raised their price target on shares of Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Jefferies Financial Group decreased their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, Oppenheimer increased their target price on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $254.29.

Insider Buying and Selling at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total value of $264,231.00. Following the sale, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at $3,326,202. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.72% of the company’s stock.

Onto Innovation Stock Performance

NYSE:ONTO opened at $176.13 on Friday. The stock has a market capitalization of $8.70 billion, a PE ratio of 47.75, a P/E/G ratio of 1.11 and a beta of 1.37. Onto Innovation Inc. has a fifty-two week low of $118.90 and a fifty-two week high of $238.93. The company has a fifty day moving average of $200.49 and a two-hundred day moving average of $206.65.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. The business had revenue of $252.20 million during the quarter, compared to analysts’ expectations of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The company’s quarterly revenue was up 21.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.96 earnings per share. Research analysts forecast that Onto Innovation Inc. will post 5.19 earnings per share for the current year.

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.