Onto Innovation Inc. (NYSE:ONTO) Stock Position Raised by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC boosted its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 4.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,137 shares of the semiconductor company’s stock after purchasing 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.

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

Onto Innovation Price Performance

NYSE ONTO opened at $166.29 on Monday. The company’s fifty day moving average is $194.17 and its two-hundred day moving average is $204.79. Onto Innovation Inc. has a 52-week low of $134.11 and a 52-week high of $238.93. The firm has a market capitalization of $8.21 billion, a price-to-earnings 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 results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.03. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The firm had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. During the same period in the previous year, the company posted $0.96 earnings per share. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. As a group, sell-side analysts expect that Onto Innovation Inc. will post 5.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on ONTO shares. Benchmark restated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, November 1st. Jefferies Financial Group cut their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Oppenheimer boosted their price target on shares of Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Needham & Company LLC dropped their price target on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $254.29.

Insider Activity at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of the company’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 sale, the senior vice president now owns 16,050 shares of the company’s stock, valued at $3,326,202. The trade was a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

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.