Nicolet Advisory Services LLC Grows Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Nicolet Advisory Services LLC lifted its position in Onto Innovation Inc. (NYSE:ONTO) by 115.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,242 shares of the semiconductor company’s stock after acquiring an additional 1,203 shares during the period. Nicolet Advisory Services LLC’s holdings in Onto Innovation were worth $463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Millennium Management LLC boosted its stake in Onto Innovation by 304.9% during the 2nd quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company’s stock worth $98,329,000 after purchasing an additional 337,250 shares during the last quarter. Congress Asset Management Co. lifted its stake in shares of Onto Innovation by 38.1% in the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after buying an additional 295,869 shares in the last quarter. Citigroup Inc. boosted its position in Onto Innovation by 811.7% during the third quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company’s stock worth $66,236,000 after acquiring an additional 284,115 shares during the last quarter. Natixis Advisors LLC grew its stake in Onto Innovation by 379.8% during the 2nd quarter. Natixis Advisors LLC now owns 245,144 shares of the semiconductor company’s stock valued at $53,824,000 after acquiring an additional 194,056 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Onto Innovation by 28.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock valued at $188,115,000 after acquiring an additional 189,769 shares in the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation 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 completion of the sale, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. The trade was a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Needham & Company LLC lowered their target price on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Oppenheimer boosted their price objective on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note 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. Finally, Jefferies Financial Group reduced their price target on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock 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. Based on data from MarketBeat, Onto Innovation currently has a consensus rating of “Moderate Buy” and an average price target of $254.29.

Onto Innovation Stock Down 0.1 %

NYSE:ONTO opened at $166.29 on Friday. Onto Innovation Inc. has a 52 week low of $134.11 and a 52 week high of $238.93. The stock’s fifty day moving average is $194.17 and its two-hundred day moving average is $204.80. The company has a market capitalization of $8.21 billion, a P/E ratio of 45.07, a P/E/G ratio of 1.07 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data 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. The firm had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. Onto Innovation’s revenue was up 21.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 EPS. Sell-side analysts anticipate that Onto Innovation Inc. will post 5.19 earnings per share for the current fiscal year.

About Onto Innovation

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.