Triasima Portfolio Management inc. Takes Position in Onto Innovation Inc. (NYSE:ONTO)

Triasima Portfolio Management inc. acquired a new position in Onto Innovation Inc. (NYSE:ONTO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,315 shares of the semiconductor company’s stock, valued at approximately $289,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fidelis Capital Partners LLC purchased a new stake in shares of Onto Innovation during the first quarter worth $28,000. Rise Advisors LLC bought a new position in Onto Innovation in the 1st quarter worth about $38,000. GAMMA Investing LLC grew its holdings in Onto Innovation by 41.1% during the 1st quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 85 shares in the last quarter. LGT Financial Advisors LLC increased its position in shares of Onto Innovation by 58.1% during the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 90 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of Onto Innovation by 43.0% during the fourth quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company’s stock valued at $56,000 after buying an additional 110 shares during the period. 98.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. 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 upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a research report on Monday, August 19th. B. Riley upped 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. 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 note on Monday, July 15th. Finally, Jefferies Financial Group began coverage on Onto Innovation in a research note on Monday, May 13th. They issued a “buy” rating and a $265.00 target price on the stock. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $259.00.

Onto Innovation Stock Down 5.5 %

Shares of NYSE ONTO traded down $10.36 during mid-day trading on Friday, reaching $177.30. 457,189 shares of the company were exchanged, compared to its average volume of 536,806. Onto Innovation Inc. has a 52 week low of $108.98 and a 52 week high of $238.93. The company’s 50 day moving average price is $203.81 and its 200 day moving average price is $201.17. The stock has a market capitalization of $8.74 billion, a PE ratio of 63.10 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.12. The firm had revenue of $242.33 million during the quarter, compared to analyst estimates of $235.43 million. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The company’s revenue was up 27.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 earnings per share. On average, sell-side analysts predict that Onto Innovation Inc. will post 5.11 earnings per share for the current year.

Insider Buying and Selling at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,486 shares of the business’s stock in a transaction that occurred 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 directly owns 17,433 shares in the company, valued at approximately $3,720,202.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

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.