Versant Capital Management Inc Acquires 197 Shares of Onto Innovation Inc. (NYSE:ONTO)

Versant Capital Management Inc boosted its holdings in Onto Innovation Inc. (NYSE:ONTO) by 532.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 234 shares of the semiconductor company’s stock after acquiring an additional 197 shares during the period. Versant Capital Management Inc’s holdings in Onto Innovation were worth $39,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP boosted its holdings in shares of Onto Innovation by 232.4% during the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after buying an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position 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 worth $27,000 after acquiring an additional 108 shares during the last quarter. Eastern Bank bought a new stake in shares of Onto Innovation during the third quarter worth approximately $65,000. UMB Bank n.a. grew its position in shares of Onto Innovation by 62.0% in the third quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock valued at $67,000 after purchasing an additional 124 shares during the last quarter. Finally, Park Place Capital Corp bought a new position in shares of Onto Innovation during the third quarter worth approximately $68,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Stock Up 6.9 %

ONTO stock opened at $192.44 on Tuesday. Onto Innovation Inc. has a 52 week low of $136.32 and a 52 week high of $238.93. The business has a 50-day simple moving average of $171.80 and a 200 day simple moving average of $193.18. The company has a market cap of $9.50 billion, a PE ratio of 52.15, a price-to-earnings-growth ratio of 1.07 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.31 by $0.03. The company had revenue of $252.20 million during the quarter, compared to analysts’ expectations of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The business’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.96 EPS. On average, analysts anticipate that Onto Innovation Inc. will post 5.22 EPS for the current fiscal year.

Analyst Ratings Changes

ONTO has been the subject of several recent research reports. Needham & Company LLC reduced their price target on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Jefferies Financial Group reduced their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Benchmark restated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, November 1st. Finally, Oppenheimer reiterated an “outperform” rating and issued a $275.00 price objective on shares of Onto Innovation in a research note on Tuesday, December 17th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Onto Innovation has a consensus rating of “Moderate Buy” and a consensus target price of $254.29.

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.