Onto Innovation Inc. (NYSE:ONTO) Shares Purchased by Algert Global LLC

Algert Global LLC lifted its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 193.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 5,978 shares of the semiconductor company’s stock after acquiring an additional 3,938 shares during the period. Algert Global LLC’s holdings in Onto Innovation were worth $1,313,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC acquired a new position in shares of Onto Innovation in the 1st quarter valued at about $28,000. Rise Advisors LLC bought a new position in shares of Onto Innovation during the first quarter worth about $38,000. GAMMA Investing LLC lifted its holdings in Onto Innovation by 41.1% during the 1st quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company’s stock worth $53,000 after buying an additional 85 shares during the last quarter. LGT Financial Advisors LLC boosted its holdings in Onto Innovation by 58.1% in the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 90 shares during the period. Finally, Parallel Advisors LLC grew its position in shares of Onto Innovation by 43.0% during the 4th quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company’s stock valued at $56,000 after buying an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insider Buying and Selling

In related news, SVP Srinivas Vedula sold 1,275 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total transaction of $264,231.00. Following the sale, the senior vice president now directly owns 16,050 shares in the company, valued at $3,326,202. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ONTO has been the topic of several analyst reports. B. Riley increased their target price on Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Benchmark reiterated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, August 9th. Stifel Nicolaus lifted their price target on Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Needham & Company LLC upgraded Onto Innovation from a “hold” rating to a “buy” rating in a report on Monday, August 19th. Finally, Oppenheimer raised their price target on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a report on Tuesday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $261.67.

Onto Innovation Price Performance

NYSE ONTO opened at $206.76 on Friday. The stock’s 50 day simple moving average is $196.19 and its 200 day simple moving average is $203.24. The firm has a market cap of $10.19 billion, a PE ratio of 73.58 and a beta of 1.37. Onto Innovation Inc. has a one year low of $108.98 and a one year high of $238.93.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.12. The firm had revenue of $242.33 million for the quarter, compared to analysts’ expectations of $235.43 million. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The business’s revenue for the quarter was up 27.1% on a year-over-year basis. During the same period last year, the firm earned $0.79 earnings per share. As a group, equities analysts expect that Onto Innovation Inc. will post 5.18 earnings per share for the current year.

About Onto Innovation

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.