Virtu Financial LLC Buys New Position in Onto Innovation Inc. (NYSE:ONTO)

Virtu Financial LLC purchased a new position in shares of Onto Innovation Inc. (NYSE:ONTO) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,096 shares of the semiconductor company’s stock, valued at approximately $1,558,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ONTO. Vanguard Group Inc. boosted its holdings in Onto Innovation by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 5,254,287 shares of the semiconductor company’s stock worth $951,446,000 after acquiring an additional 65,472 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Onto Innovation by 64.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 946,879 shares of the semiconductor company’s stock valued at $144,779,000 after purchasing an additional 371,641 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Onto Innovation by 28.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock valued at $188,115,000 after purchasing an additional 189,769 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Onto Innovation by 13.0% during the fourth 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. Finally, Hood River Capital Management LLC grew its position in Onto Innovation by 6.9% in the 1st quarter. Hood River Capital Management LLC now owns 672,230 shares of the semiconductor company’s stock worth $121,727,000 after purchasing an additional 43,132 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Stock Up 1.4 %

Shares of ONTO stock opened at $192.05 on Wednesday. The firm has a market cap of $9.46 billion, a P/E ratio of 68.35 and a beta of 1.37. The company has a 50 day moving average of $198.54 and a 200-day moving average of $201.80. Onto Innovation Inc. has a 12-month low of $108.98 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.12. The business had revenue of $242.33 million during the quarter, compared to the consensus estimate of $235.43 million. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The business’s revenue for the quarter was up 27.1% on a year-over-year basis. During the same period last year, the business posted $0.79 earnings per share. As a group, equities analysts expect that Onto Innovation Inc. will post 5.18 EPS for the current year.

Insider Buying and Selling

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total transaction of $264,231.00. Following the sale, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at $3,326,202. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Stifel Nicolaus lifted their target price on shares of Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Benchmark reiterated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, August 9th. B. Riley boosted their price objective on Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Finally, Needham & Company LLC raised Onto Innovation from a “hold” rating to a “buy” rating in a research report on Monday, August 19th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $259.00.

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.