1832 Asset Management L.P. Buys Shares of 37,300 Onto Innovation Inc. (NYSE:ONTO)

1832 Asset Management L.P. bought a new stake in Onto Innovation Inc. (NYSE:ONTO) in the first quarter, HoldingsChannel.com reports. The fund bought 37,300 shares of the semiconductor company’s stock, valued at approximately $6,754,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its position in shares of Onto Innovation by 14,819.4% during the fourth quarter. International Assets Investment Management LLC now owns 615,575 shares of the semiconductor company’s stock worth $94,121,000 after buying an additional 611,449 shares during the period. Norges Bank acquired a new position in shares of Onto Innovation during the fourth quarter worth approximately $89,785,000. Price T Rowe Associates Inc. MD boosted its position in shares of Onto Innovation by 64.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 946,879 shares of the semiconductor company’s stock worth $144,779,000 after buying an additional 371,641 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Onto Innovation by 854.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 296,049 shares of the semiconductor company’s stock worth $45,266,000 after buying an additional 265,042 shares during the period. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in Onto Innovation during the first quarter worth approximately $29,420,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Jefferies Financial Group assumed coverage on Onto Innovation in a report on Monday, May 13th. They set a “buy” rating and a $265.00 target price on the stock. Evercore ISI boosted their target price on Onto Innovation from $235.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 10th. B. Riley boosted their target price on 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 reissued a “hold” rating on shares of Onto Innovation in a report on Friday, May 10th. Finally, Stifel Nicolaus boosted their target price on Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Onto Innovation presently has an average rating of “Moderate Buy” and an average target price of $259.00.

Insider Activity

In other news, CFO Mark Slicer sold 519 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $221.21, for a total value of $114,807.99. Following the completion of the sale, the chief financial officer now owns 12,552 shares in the company, valued at $2,776,627.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Mark Slicer sold 519 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $221.21, for a total value of $114,807.99. Following the completion of the sale, the chief financial officer now owns 12,552 shares in the company, valued at $2,776,627.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Srinivas Vedula sold 1,486 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $213.40, for a total value of $317,112.40. Following the completion of the sale, the senior vice president now owns 17,433 shares of the company’s stock, valued at approximately $3,720,202.20. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Onto Innovation Price Performance

Shares of NYSE:ONTO traded down $0.34 on Friday, reaching $188.80. 632,788 shares of the company traded hands, compared to its average volume of 931,150. Onto Innovation Inc. has a fifty-two week low of $105.58 and a fifty-two week high of $238.93. The company’s 50 day moving average is $220.52 and its 200-day moving average is $194.50. The stock has a market capitalization of $9.30 billion, a PE ratio of 67.19 and a beta of 1.39.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.08. Onto Innovation had a return on equity of 11.48% and a net margin of 16.43%. The company had revenue of $228.80 million during the quarter, compared to the consensus estimate of $222.60 million. During the same quarter in the prior year, the firm earned $0.92 EPS. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, analysts expect that Onto Innovation Inc. will post 5.05 EPS 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.