Landscape Capital Management L.L.C. Takes Position in Onto Innovation Inc. (NYSE:ONTO)

Landscape Capital Management L.L.C. purchased a new position in Onto Innovation Inc. (NYSE:ONTO) in the third quarter, Holdings Channel.com reports. The fund purchased 1,910 shares of the semiconductor company’s stock, valued at approximately $396,000.

Several other large investors have also added to or reduced their stakes in ONTO. Millennium Management LLC raised its holdings in Onto Innovation by 304.9% in the second quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company’s stock worth $98,329,000 after purchasing an additional 337,250 shares in the last quarter. Congress Asset Management Co. increased its stake in shares of Onto Innovation by 38.1% in the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after acquiring an additional 295,869 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of Onto Innovation by 379.8% in the 2nd quarter. Natixis Advisors LLC now owns 245,144 shares of the semiconductor company’s stock worth $53,824,000 after acquiring an additional 194,056 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Onto Innovation by 28.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock valued at $188,115,000 after acquiring an additional 189,769 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in Onto Innovation during the third quarter worth about $30,418,000. Institutional investors own 98.35% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Needham & Company LLC lowered their target price on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a report on Friday, November 1st. Benchmark reiterated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, November 1st. Oppenheimer increased their target price on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group lowered their price target on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Onto Innovation has an average rating of “Moderate Buy” and a consensus target price of $254.29.

Insider Activity at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of the company’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 sale, the senior vice president now owns 16,050 shares in the company, valued at approximately $3,326,202. This represents a 7.36 % decrease in their ownership of the stock. The transaction 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 insiders.

Onto Innovation Price Performance

ONTO stock opened at $166.29 on Monday. The stock has a market capitalization of $8.21 billion, a P/E ratio of 45.07, a P/E/G ratio of 1.07 and a beta of 1.37. Onto Innovation Inc. has a 1-year low of $134.11 and a 1-year high of $238.93. The business has a fifty day moving average price of $194.17 and a 200-day moving average price of $204.79.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. The business had revenue of $252.20 million during the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. Onto Innovation’s revenue was up 21.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.96 EPS. As a group, analysts anticipate that Onto Innovation Inc. will post 5.19 earnings per share for the current year.

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.