GSA Capital Partners LLP Takes $1.43 Million Position in Onto Innovation Inc. (NYSE:ONTO)

GSA Capital Partners LLP purchased a new position in Onto Innovation Inc. (NYSE:ONTO) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,868 shares of the semiconductor company’s stock, valued at approximately $1,426,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP raised its position in shares of Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Onto Innovation by 675.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 108 shares in the last quarter. LGT Financial Advisors LLC lifted its stake in Onto Innovation by 58.1% during the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 90 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Onto Innovation by 40.2% in the 2nd quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock valued at $64,000 after purchasing an additional 84 shares in the last quarter. Finally, Eastern Bank bought a new position in shares of Onto Innovation in the 3rd quarter valued at $65,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Insider Buying and Selling at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 16,050 shares in the company, valued at $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 is available through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Onto Innovation Price Performance

NYSE:ONTO opened at $164.81 on Thursday. Onto Innovation Inc. has a one year low of $131.78 and a one year high of $238.93. The company has a market cap of $8.14 billion, a PE ratio of 44.66, a P/E/G ratio of 1.12 and a beta of 1.37. The firm’s 50 day simple moving average is $198.07 and its 200 day simple moving average is $206.74.

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

Analyst Ratings Changes

Several analysts recently weighed in on the company. Benchmark restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, November 1st. Oppenheimer raised their price target on shares of Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Needham & Company LLC lowered their price objective on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, Jefferies Financial Group dropped their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Onto Innovation has an average rating of “Moderate Buy” and an average price target of $254.29.

Onto Innovation 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.