Sei Investments Co. Boosts Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Sei Investments Co. grew its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 24.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 178,984 shares of the semiconductor company’s stock after buying an additional 35,356 shares during the period. Sei Investments Co.’s holdings in Onto Innovation were worth $39,298,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ONTO. Fidelis Capital Partners LLC bought a new stake in Onto Innovation during the 1st quarter valued at approximately $28,000. Rise Advisors LLC bought a new stake in Onto Innovation during the 1st quarter valued at approximately $38,000. LGT Financial Advisors LLC raised its stake in Onto Innovation by 58.1% during the 2nd 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 period. GAMMA Investing LLC increased its stake in Onto Innovation by 41.1% in the 1st quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 85 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in Onto Innovation by 40.2% in the 2nd quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock worth $64,000 after acquiring an additional 84 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was 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 approximately $3,326,202. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ONTO. Stifel Nicolaus lifted their price objective on Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. B. Riley lifted their price objective on Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Benchmark reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, August 9th. Finally, Needham & Company LLC upgraded Onto Innovation from a “hold” rating to a “buy” rating in a report on Monday, August 19th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $259.00.

Onto Innovation Stock Up 0.3 %

ONTO opened at $200.52 on Tuesday. The business has a fifty day moving average of $195.95 and a 200 day moving average of $201.95. Onto Innovation Inc. has a 52-week low of $108.98 and a 52-week high of $238.93. The stock has a market cap of $9.88 billion, a P/E ratio of 71.36 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.12. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The company had revenue of $242.33 million during the quarter, compared to analysts’ expectations of $235.43 million. During the same quarter in the previous year, the business earned $0.79 EPS. Onto Innovation’s revenue was up 27.1% compared to the same quarter last year. Equities analysts anticipate 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.