Nisa Investment Advisors LLC Boosts Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Nisa Investment Advisors LLC lifted its holdings in Onto Innovation Inc. (NYSE:ONTO) by 25.5% in the second quarter, HoldingsChannel reports. The firm owned 2,070 shares of the semiconductor company’s stock after purchasing an additional 420 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Onto Innovation were worth $151,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ONTO. Noked Israel Ltd grew its holdings in shares of Onto Innovation by 88.4% in the first quarter. Noked Israel Ltd now owns 1,028,667 shares of the semiconductor company’s stock valued at $67,594,000 after purchasing an additional 482,536 shares in the last quarter. Stephens Investment Management Group LLC purchased a new position in shares of Onto Innovation in the first quarter valued at $30,757,000. BlackRock Inc. boosted its stake in Onto Innovation by 3.8% during the first quarter. BlackRock Inc. now owns 7,821,972 shares of the semiconductor company’s stock worth $513,982,000 after buying an additional 288,032 shares during the period. Redwood Investments LLC purchased a new position in Onto Innovation during the first quarter worth $18,661,000. Finally, FMR LLC boosted its stake in Onto Innovation by 15.6% during the first quarter. FMR LLC now owns 1,209,498 shares of the semiconductor company’s stock worth $37,349,000 after buying an additional 163,008 shares during the period. 96.74% of the stock is owned by hedge funds and other institutional investors.

Shares of ONTO opened at $78.91 on Friday. The firm has a market capitalization of $3.89 billion, a P/E ratio of 44.84 and a beta of 1.24. Onto Innovation Inc. has a 12-month low of $28.25 and a 12-month high of $79.99. The firm has a fifty day moving average price of $71.83 and a 200-day moving average price of $68.79.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, August 5th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.12. The firm had revenue of $193.39 million during the quarter, compared to analyst estimates of $178.55 million. Onto Innovation had a net margin of 13.53% and a return on equity of 10.72%. As a group, equities analysts forecast that Onto Innovation Inc. will post 3.56 EPS for the current year.

Several research analysts have commented on the stock. Needham & Company LLC lifted their price objective on shares of Onto Innovation from $76.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, August 6th. Zacks Investment Research raised shares of Onto Innovation from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a research note on Monday, August 9th. Finally, B. Riley lifted their price objective on shares of Onto Innovation from $98.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, August 6th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $86.75.

In other news, CEO Michael P. Plisinski sold 29,592 shares of the business’s stock in a transaction on Friday, August 6th. The shares were sold at an average price of $75.34, for a total transaction of $2,229,461.28. Following the completion of the sale, the chief executive officer now directly owns 217,643 shares of the company’s stock, valued at $16,397,223.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is currently owned by insiders.

Onto Innovation Profile

Onto Innovation, Inc engages in developing process control systems. It offers process control, combining global scale with an expanded portfolio of technologies that include: 3D metrology spanning the chip from nanometer-scale transistors to micron-level die-interconnects, macro defect inspection of wafers and packages, metal interconnect composition, factory analytics, and lithography for advanced semiconductor packaging.

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Institutional Ownership by Quarter for Onto Innovation (NYSE:ONTO)

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