Versor Investments LP Buys 3,200 Shares of Onto Innovation Inc. (NYSE:ONTO)

Versor Investments LP boosted its holdings in Onto Innovation Inc. (NYSE:ONTO) by 266.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,400 shares of the semiconductor company’s stock after buying an additional 3,200 shares during the period. Versor Investments LP’s holdings in Onto Innovation were worth $913,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ONTO. Quarry LP grew 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 purchasing an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Onto Innovation by 675.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 108 shares in the last quarter. LGT Financial Advisors LLC raised its holdings 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 worth $54,000 after acquiring an additional 90 shares during the period. Fifth Third Bancorp raised its holdings in shares of Onto Innovation by 40.2% during the second quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock worth $64,000 after acquiring an additional 84 shares during the period. Finally, Eastern Bank bought a new stake in Onto Innovation in the 3rd quarter valued at $65,000. Institutional investors own 98.35% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total value of $264,231.00. Following the completion of the sale, the senior vice president now directly owns 16,050 shares in the company, valued at approximately $3,326,202. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.72% of the company’s stock.

Onto Innovation Stock Performance

NYSE ONTO opened at $174.84 on Wednesday. Onto Innovation Inc. has a 52-week low of $131.78 and a 52-week high of $238.93. The stock has a market cap of $8.64 billion, a PE ratio of 47.38, a P/E/G ratio of 1.13 and a beta of 1.37. The firm has a 50-day moving average of $198.31 and a 200-day moving average of $206.85.

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

Analyst Upgrades and Downgrades

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

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.