Park Avenue Securities LLC Boosts Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Park Avenue Securities LLC boosted its holdings in Onto Innovation Inc. (NYSE:ONTO) by 78.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,883 shares of the semiconductor company’s stock after buying an additional 826 shares during the quarter. Park Avenue Securities LLC’s holdings in Onto Innovation were worth $391,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ONTO. Quarry LP increased its holdings in Onto Innovation by 232.4% in the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 79 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Onto Innovation by 675.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 108 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Onto Innovation during the first quarter worth about $28,000. Rise Advisors LLC purchased a new position in shares of Onto Innovation during the first quarter worth about $38,000. Finally, GAMMA Investing LLC grew its holdings in shares of Onto Innovation by 41.1% during the first quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insider Activity at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of the firm’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 completion of the sale, the senior vice president now owns 16,050 shares in the company, valued at $3,326,202. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is owned by insiders.

Onto Innovation Stock Performance

Shares of ONTO opened at $217.79 on Friday. Onto Innovation Inc. has a fifty-two week low of $108.98 and a fifty-two week high of $238.93. The company has a market capitalization of $10.73 billion, a price-to-earnings ratio of 77.51, a price-to-earnings-growth ratio of 1.36 and a beta of 1.36. The firm has a 50-day simple moving average of $199.85 and a 200-day simple moving average of $204.66.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ONTO shares. Needham & Company LLC raised Onto Innovation from a “hold” rating to a “buy” rating in a report on Monday, August 19th. Benchmark reaffirmed a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, August 9th. Stifel Nicolaus raised their price objective on Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 15th. B. Riley raised their price objective on Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, Oppenheimer raised their price objective on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $261.67.

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.