Onto Innovation Inc. (NYSE:ONTO) Shares Purchased by Hunter Perkins Capital Management LLC

Hunter Perkins Capital Management LLC boosted its position in Onto Innovation Inc. (NYSE:ONTO) by 3.6% during the 3rd quarter, Holdings Channel reports. The fund owned 2,325 shares of the semiconductor company’s stock after acquiring an additional 80 shares during the quarter. Hunter Perkins Capital Management LLC’s holdings in Onto Innovation were worth $483,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ONTO. Quarry LP raised 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 purchasing an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 108 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in Onto Innovation in the 1st quarter valued at $28,000. Rise Advisors LLC purchased a new position in Onto Innovation in the 1st quarter valued at $38,000. Finally, LGT Financial Advisors LLC grew its position in Onto Innovation by 58.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Stock Performance

Onto Innovation stock traded up $3.19 during midday trading on Wednesday, reaching $207.47. The stock had a trading volume of 472,409 shares, compared to its average volume of 553,705. The stock’s 50-day simple moving average is $201.74 and its 200 day simple moving average is $205.31. Onto Innovation Inc. has a twelve month low of $108.98 and a twelve month high of $238.93. The stock has a market capitalization of $10.22 billion, a PE ratio of 73.83, a price-to-earnings-growth ratio of 1.36 and a beta of 1.36.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.12. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The business had revenue of $242.33 million during the quarter, compared to analyst estimates of $235.43 million. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The business’s revenue was up 27.1% compared to the same quarter last year. Equities analysts predict that Onto Innovation Inc. will post 5.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the stock in a transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on ONTO. Needham & Company LLC upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a research report on Monday, August 19th. Stifel Nicolaus raised their target price on shares of Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 15th. Oppenheimer raised their price objective on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. B. Riley increased their target price on Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Finally, Benchmark restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Onto Innovation currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.67.

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.