Algert Global LLC Increases Stake in Onto Innovation Inc. (NYSE:ONTO)

Algert Global LLC increased its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 410.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,498 shares of the semiconductor company’s stock after buying an additional 24,520 shares during the period. Algert Global LLC owned about 0.06% of Onto Innovation worth $6,330,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. increased its position in shares of Onto Innovation by 24.6% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 202,425 shares of the semiconductor company’s stock valued at $44,444,000 after purchasing an additional 39,955 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Onto Innovation by 98.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company’s stock valued at $1,218,000 after purchasing an additional 2,753 shares during the last quarter. Public Employees Retirement Association of Colorado increased its position in shares of Onto Innovation by 45.7% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 105,267 shares of the semiconductor company’s stock valued at $23,112,000 after purchasing an additional 33,025 shares during the last quarter. Swedbank AB increased its position in shares of Onto Innovation by 372.7% in the 2nd quarter. Swedbank AB now owns 62,400 shares of the semiconductor company’s stock valued at $13,701,000 after purchasing an additional 49,200 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Onto Innovation in the 3rd quarter valued at approximately $14,539,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Stock Performance

ONTO stock opened at $166.29 on Friday. Onto Innovation Inc. has a one year low of $134.11 and a one year high of $238.93. The stock has a market capitalization of $8.21 billion, a PE ratio of 45.07, a price-to-earnings-growth ratio of 1.07 and a beta of 1.37. The company has a fifty day moving average of $194.17 and a 200-day moving average of $204.80.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The company had revenue of $252.20 million during the quarter, compared to analysts’ expectations of $250.85 million. During the same quarter last year, the business earned $0.96 EPS. The business’s revenue was up 21.7% on a year-over-year basis. Equities analysts forecast that Onto Innovation Inc. will post 5.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of the 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 transaction, the senior vice president now owns 16,050 shares in the company, valued at $3,326,202. This trade represents a 7.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.72% of the company’s stock.

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.