Onto Innovation Inc. (NYSE:ONTO) Shares Purchased by Deepwater Asset Management LLC

Deepwater Asset Management LLC raised its holdings in Onto Innovation Inc. (NYSE:ONTO) by 3.4% during the third quarter, HoldingsChannel.com reports. The firm owned 66,241 shares of the semiconductor company’s stock after buying an additional 2,168 shares during the period. Onto Innovation makes up about 4.8% of Deepwater Asset Management LLC’s portfolio, making the stock its 13th biggest holding. Deepwater Asset Management LLC’s holdings in Onto Innovation were worth $13,749,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ONTO. Quarry LP lifted its holdings in Onto Innovation by 232.4% in 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 last quarter. Northwestern Mutual Wealth Management Co. increased its position in Onto Innovation by 675.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after buying an additional 108 shares during the period. Fidelis Capital Partners LLC bought a new stake in Onto Innovation in the first quarter valued at $28,000. LGT Financial Advisors LLC boosted its holdings in shares of Onto Innovation by 58.1% during the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock valued at $54,000 after acquiring an additional 90 shares during the period. Finally, Fifth Third Bancorp increased its holdings in shares of Onto Innovation by 40.2% in the 2nd quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock worth $64,000 after acquiring an additional 84 shares during the period. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Onto Innovation

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

Analysts Set New Price Targets

ONTO has been the topic of several analyst reports. Oppenheimer raised their price target on shares of Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Stifel Nicolaus raised their target price on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Needham & Company LLC raised Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. Finally, Benchmark restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $261.67.

Onto Innovation Price Performance

Shares of ONTO opened at $202.24 on Tuesday. Onto Innovation Inc. has a one year low of $108.98 and a one year high of $238.93. The company has a 50-day moving average of $203.54 and a two-hundred day moving average of $206.46. The stock has a market cap of $9.99 billion, a price-to-earnings ratio of 60.37, a PEG ratio of 1.31 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 for the quarter, beating analysts’ consensus estimates of $1.20 by $0.12. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The business had revenue of $242.33 million for the quarter, compared to the consensus estimate of $235.43 million. During the same quarter in the previous year, the company posted $0.79 earnings per share. Onto Innovation’s revenue for the quarter was up 27.1% compared to the same quarter last year. Analysts anticipate that Onto Innovation Inc. will post 5.18 earnings per share for the current 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.