1,138 Shares in Onto Innovation Inc. (NYSE:ONTO) Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC acquired a new position in Onto Innovation Inc. (NYSE:ONTO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,138 shares of the semiconductor company’s stock, valued at approximately $250,000.

A number of other hedge funds have also recently added to or reduced their stakes in 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 worth $25,000 after buying an additional 79 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings 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 last quarter. Fidelis Capital Partners LLC acquired a new position in Onto Innovation during the first quarter valued at approximately $28,000. 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 last quarter. Finally, LGT Financial Advisors LLC grew its holdings in Onto Innovation by 58.1% during the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock valued at $54,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ONTO shares. Needham & Company LLC upgraded Onto Innovation from a “hold” rating to a “buy” rating in a report on Monday, August 19th. Stifel Nicolaus increased their price target on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 15th. Benchmark restated a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, August 9th. Finally, Oppenheimer raised their price objective on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $261.67.

Insider Buying and Selling

In related news, SVP Srinivas Vedula sold 1,275 shares of the firm’s 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 transaction, the senior vice president now directly owns 16,050 shares of the company’s stock, 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 through this hyperlink. 0.72% of the stock is owned by company insiders.

Onto Innovation Price Performance

Shares of ONTO stock opened at $209.59 on Friday. The stock has a market cap of $10.33 billion, a P/E ratio of 74.59, a price-to-earnings-growth ratio of 1.36 and a beta of 1.36. Onto Innovation Inc. has a one year low of $108.98 and a one year high of $238.93. The stock has a fifty day moving average price of $203.53 and a 200 day moving average price of $205.65.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, August 8th. The semiconductor company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.20 by $0.12. The firm 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%. Onto Innovation’s quarterly revenue was up 27.1% compared to the same quarter last year. During the same period last year, the business earned $0.79 earnings per share. Equities research analysts anticipate that Onto Innovation Inc. will post 5.18 EPS for the current 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.