650 Shares in Onto Innovation Inc. (NYSE:ONTO) Purchased by R Squared Ltd

R Squared Ltd purchased a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 650 shares of the semiconductor company’s stock, valued at approximately $108,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Quarry LP grew its stake in shares of Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after buying an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Onto Innovation by 675.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 108 shares during the period. Versant Capital Management Inc lifted its stake in shares of Onto Innovation by 532.4% in the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 197 shares during the last quarter. Berbice Capital Management LLC purchased a new position in shares of Onto Innovation in the 4th quarter worth approximately $50,000. Finally, Eastern Bank bought a new position in shares of Onto Innovation during the 3rd quarter valued at approximately $65,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Benchmark reiterated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, November 1st. Cantor Fitzgerald began coverage on shares of Onto Innovation in a research note on Monday, January 13th. They issued an “overweight” rating and a $250.00 price objective for the company. Oppenheimer reaffirmed an “outperform” rating and set a $275.00 target price on shares of Onto Innovation in a research note on Tuesday, December 17th. Needham & Company LLC decreased their price target on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Finally, Jefferies Financial Group cut their price objective on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Onto Innovation presently has an average rating of “Moderate Buy” and a consensus target price of $253.75.

Insider Activity

In other news, SVP Srinivas Vedula sold 827 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the sale, the senior vice president now owns 15,223 shares of the company’s stock, valued at $3,120,715. This trade represents a 5.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael P. Plisinski sold 35,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total value of $7,671,650.00. Following the transaction, the chief executive officer now directly owns 150,492 shares in the company, valued at $32,986,341.48. This represents a 18.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 85,827 shares of company stock worth $18,182,185. Corporate insiders own 0.72% of the company’s stock.

Onto Innovation Stock Up 7.0 %

Onto Innovation stock opened at $205.25 on Friday. Onto Innovation Inc. has a twelve month low of $145.15 and a twelve month high of $238.93. The business has a fifty day moving average of $180.57 and a two-hundred day moving average of $190.62. The firm has a market cap of $10.14 billion, a P/E ratio of 55.62, a P/E/G ratio of 1.16 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. The company had revenue of $252.20 million for the quarter, compared to the consensus estimate of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.96 earnings per share. Equities analysts expect that Onto Innovation Inc. will post 5.22 earnings per share for the current year.

Onto Innovation Company 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.