Onto Innovation Inc. (NYSE:ONTO) Shares Bought by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC grew its stake in Onto Innovation Inc. (NYSE:ONTO) by 4.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,137 shares of the semiconductor company’s stock after buying an additional 93 shares during the period. Alpha DNA Investment Management LLC’s holdings in Onto Innovation were worth $444,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. O Shaughnessy Asset Management LLC increased its stake in shares of Onto Innovation by 10.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,381 shares of the semiconductor company’s stock worth $612,000 after acquiring an additional 317 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Onto Innovation by 30.9% in the 1st quarter. Advisors Asset Management Inc. now owns 4,339 shares of the semiconductor company’s stock valued at $786,000 after buying an additional 1,025 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Onto Innovation by 76.6% in the first quarter. Lazard Asset Management LLC now owns 66,680 shares of the semiconductor company’s stock valued at $12,074,000 after buying an additional 28,926 shares in the last quarter. Public Employees Retirement Association of Colorado grew its holdings in Onto Innovation by 938.1% during the first quarter. Public Employees Retirement Association of Colorado now owns 72,242 shares of the semiconductor company’s stock worth $13,082,000 after acquiring an additional 65,283 shares during the period. Finally, Silvercrest Asset Management Group LLC raised its position in Onto Innovation by 2.3% in the first quarter. Silvercrest Asset Management Group LLC now owns 71,529 shares of the semiconductor company’s stock worth $12,952,000 after acquiring an additional 1,580 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Needham & Company LLC lowered their price target on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Benchmark reissued a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. Oppenheimer lifted their price target on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group lowered their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $254.29.

Insider Activity

In other news, SVP Srinivas Vedula sold 1,275 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total value of $264,231.00. Following the completion of the sale, the senior vice president now owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. The trade was a 7.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.72% of the company’s stock.

Onto Innovation Stock Down 0.1 %

NYSE ONTO opened at $166.29 on Monday. Onto Innovation Inc. has a fifty-two week low of $134.11 and a fifty-two week high of $238.93. The business has a 50 day moving average price of $194.17 and a two-hundred day moving average price of $204.79. The stock has a market cap of $8.21 billion, a PE ratio of 45.07, a P/E/G ratio of 1.06 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The firm had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. During the same quarter in the previous year, the business posted $0.96 EPS. The firm’s revenue was up 21.7% compared to the same quarter last year. Sell-side analysts anticipate that Onto Innovation Inc. will post 5.22 EPS for the current fiscal year.

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.