GAMMA Investing LLC Has $214,000 Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

GAMMA Investing LLC raised its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 141.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,032 shares of the semiconductor company’s stock after purchasing an additional 605 shares during the quarter. GAMMA Investing LLC’s holdings in Onto Innovation were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ONTO. Price T Rowe Associates Inc. MD boosted its stake in Onto Innovation by 64.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 946,879 shares of the semiconductor company’s stock valued at $144,779,000 after buying an additional 371,641 shares in the last quarter. American International Group Inc. boosted its stake in shares of Onto Innovation by 235.7% in the 4th quarter. American International Group Inc. now owns 90,255 shares of the semiconductor company’s stock valued at $13,800,000 after purchasing an additional 63,367 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Onto Innovation by 13.0% in the 4th quarter. Wellington Management Group LLP now owns 844,623 shares of the semiconductor company’s stock worth $129,143,000 after purchasing an additional 96,925 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of Onto Innovation during the 4th quarter worth about $145,000. Finally, Rise Advisors LLC bought a new position in Onto Innovation during the 1st quarter valued at about $38,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Stock Performance

Shares of ONTO opened at $217.79 on Friday. The firm has a market capitalization of $10.73 billion, a price-to-earnings ratio of 77.51, a PEG ratio of 1.36 and a beta of 1.36. Onto Innovation Inc. has a 52 week low of $108.98 and a 52 week high of $238.93. The business’s fifty day moving average price is $198.66 and its two-hundred day moving average price is $204.26.

Onto Innovation (NYSE:ONTO) last posted its quarterly 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 business had revenue of $242.33 million for 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%. The firm’s quarterly revenue was up 27.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.79 earnings per share. As a group, research analysts forecast that Onto Innovation Inc. will post 5.18 EPS for the current year.

Insider Transactions at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total value of $264,231.00. Following the transaction, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ONTO. Benchmark reaffirmed a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, August 9th. Needham & Company LLC raised Onto Innovation from a “hold” rating to a “buy” rating in a report on Monday, August 19th. Stifel Nicolaus lifted their price objective on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Oppenheimer increased their target price on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, B. Riley lifted their price target on Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, June 20th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Onto Innovation presently has a consensus rating of “Moderate Buy” and an average price target of $261.67.

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.