Driehaus Capital Management LLC Purchases 10,328 Shares of Onto Innovation Inc. (NYSE:ONTO)

Driehaus Capital Management LLC raised its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 2.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 535,769 shares of the semiconductor company’s stock after buying an additional 10,328 shares during the period. Onto Innovation accounts for about 1.1% of Driehaus Capital Management LLC’s investment portfolio, making the stock its 15th biggest holding. Driehaus Capital Management LLC’s holdings in Onto Innovation were worth $117,633,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. QRG Capital Management Inc. increased its stake in 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 purchasing an additional 50 shares in the last quarter. Magnetar Financial LLC grew its holdings in shares of Onto Innovation by 4.0% during the second quarter. Magnetar Financial LLC now owns 1,622 shares of the semiconductor company’s stock valued at $356,000 after buying an additional 63 shares during the last quarter. Shaker Investments LLC OH grew its holdings in shares of Onto Innovation by 1.7% during the second quarter. Shaker Investments LLC OH now owns 3,928 shares of the semiconductor company’s stock valued at $862,000 after buying an additional 64 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Onto Innovation by 40.2% in the 2nd quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock valued at $64,000 after acquiring an additional 84 shares during the period. Finally, GAMMA Investing LLC raised 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. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insider Transactions at Onto Innovation

In related 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. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on ONTO. Oppenheimer assumed coverage on Onto Innovation in a research note on Wednesday. They set an “outperform” rating and a $260.00 price target on the stock. B. Riley increased their price target on shares of Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Needham & Company LLC raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a research report on Monday, August 19th. Stifel Nicolaus upped their price objective on shares of Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Benchmark reissued a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Onto Innovation has a consensus rating of “Moderate Buy” and a consensus price target of $259.17.

Onto Innovation Trading Down 3.3 %

Shares of NYSE:ONTO opened at $215.37 on Friday. Onto Innovation Inc. has a 12-month low of $108.98 and a 12-month high of $238.93. The business has a 50 day moving average of $195.49 and a two-hundred day moving average of $202.20. The company has a market capitalization of $10.61 billion, a PE ratio of 76.64 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, beating 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 net margin of 18.50% and a return on equity of 12.71%. The business’s revenue was up 27.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.79 EPS. Equities research analysts predict that Onto Innovation Inc. will post 5.18 earnings per share 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.