Evergreen Capital Management LLC Grows Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Evergreen Capital Management LLC increased its holdings in Onto Innovation Inc. (NYSE:ONTO) by 2.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,975 shares of the semiconductor company’s stock after buying an additional 85 shares during the quarter. Evergreen Capital Management LLC’s holdings in Onto Innovation were worth $653,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ONTO. Fidelis Capital Partners LLC bought a new stake in shares of Onto Innovation during the 1st quarter valued at $28,000. Rise Advisors LLC bought a new stake in Onto Innovation during the first quarter valued at about $38,000. GAMMA Investing LLC grew its holdings in Onto Innovation by 41.1% during the first quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 85 shares during the period. LGT Financial Advisors LLC increased its position in Onto Innovation by 58.1% in the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock worth $54,000 after buying an additional 90 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Onto Innovation by 43.0% in the fourth quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company’s stock worth $56,000 after buying an additional 110 shares during the period. 98.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ONTO has been the subject of a number of recent research reports. Needham & Company LLC upgraded Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. Benchmark restated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, August 9th. Oppenheimer began coverage on Onto Innovation in a research note on Wednesday. They issued an “outperform” rating and a $260.00 price target for the company. B. Riley boosted their price objective on Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Finally, Stifel Nicolaus lifted their target price on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $259.17.

Insider Buying and Selling

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total transaction 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is currently owned by company insiders.

Onto Innovation Stock Up 2.2 %

Shares of Onto Innovation stock opened at $203.72 on Thursday. Onto Innovation Inc. has a twelve month low of $108.98 and a twelve month high of $238.93. The business has a 50-day moving average price of $195.10 and a 200-day moving average price of $202.06. The firm has a market cap of $10.04 billion, a price-to-earnings ratio of 72.50 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.12. The business had revenue of $242.33 million during the quarter, compared to analysts’ expectations of $235.43 million. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The firm’s revenue for the quarter was up 27.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 EPS. On average, equities analysts expect that Onto Innovation Inc. will post 5.18 EPS 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.