Wealth Enhancement Advisory Services LLC Increases Holdings in Onto Innovation Inc. (NYSE:ONTO)

Wealth Enhancement Advisory Services LLC raised its stake in Onto Innovation Inc. (NYSE:ONTO) by 67.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,733 shares of the semiconductor company’s stock after buying an additional 1,105 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Onto Innovation were worth $567,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. QRG Capital Management Inc. boosted its position in shares of Onto Innovation by 2.7% during the 2nd quarter. QRG Capital Management Inc. now owns 1,935 shares of the semiconductor company’s stock valued at $425,000 after acquiring an additional 50 shares during the last quarter. Magnetar Financial LLC raised its stake in Onto Innovation by 4.0% during the second quarter. Magnetar Financial LLC now owns 1,622 shares of the semiconductor company’s stock worth $356,000 after purchasing an additional 63 shares during the period. Shaker Investments LLC OH boosted its holdings in Onto Innovation by 1.7% in the 2nd quarter. Shaker Investments LLC OH now owns 3,928 shares of the semiconductor company’s stock valued at $862,000 after purchasing an additional 64 shares during the last quarter. Quarry LP grew its stake in shares of Onto Innovation by 232.4% in the 2nd 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 period. Finally, Hunter Perkins Capital Management LLC increased its holdings in shares of Onto Innovation by 3.6% during the 3rd quarter. Hunter Perkins Capital Management LLC now owns 2,325 shares of the semiconductor company’s stock worth $483,000 after buying an additional 80 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation stock in a transaction dated 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 owns 16,050 shares in the company, valued at approximately $3,326,202. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

ONTO has been the topic of a number of recent analyst reports. Stifel Nicolaus upped their price objective on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 15th. Jefferies Financial Group decreased their price target on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Benchmark reiterated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, November 1st. Needham & Company LLC reduced their price objective on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, Oppenheimer increased their target price on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. One research 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 company has a consensus rating of “Moderate Buy” and an average target price of $254.29.

Onto Innovation Trading Down 1.4 %

ONTO opened at $176.13 on Friday. The stock’s 50-day moving average price is $200.49 and its 200 day moving average price is $206.65. Onto Innovation Inc. has a 12-month low of $118.90 and a 12-month high of $238.93. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of 47.75, a PEG ratio of 1.11 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share 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 firm had revenue of $252.20 million for the quarter, compared to the consensus estimate of $250.85 million. During the same period in the prior year, the firm earned $0.96 EPS. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis. On average, research analysts forecast that Onto Innovation Inc. will post 5.19 earnings per share for the current year.

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.