Onto Innovation Inc. (NYSE:ONTO) Shares Purchased by Bessemer Group Inc.

Bessemer Group Inc. raised its stake in Onto Innovation Inc. (NYSE:ONTO) by 7.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 119,890 shares of the semiconductor company’s stock after acquiring an additional 7,815 shares during the quarter. Bessemer Group Inc. owned approximately 0.24% of Onto Innovation worth $21,709,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ONTO. Fidelis Capital Partners LLC acquired a new stake in Onto Innovation during the first quarter worth approximately $28,000. Fifth Third Bancorp grew its position in shares of Onto Innovation by 198.3% in the fourth quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 115 shares during the period. GAMMA Investing LLC acquired a new position in Onto Innovation in the fourth quarter valued at $33,000. Rise Advisors LLC purchased a new position in Onto Innovation during the first quarter worth about $38,000. Finally, Parallel Advisors LLC lifted its position in Onto Innovation by 43.0% during the fourth quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company’s stock worth $56,000 after buying an additional 110 shares during the period. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Onto Innovation

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

Onto Innovation Trading Down 6.0 %

ONTO traded down $11.90 during trading on Thursday, hitting $186.03. 96,997 shares of the company’s stock were exchanged, compared to its average volume of 514,596. Onto Innovation Inc. has a 1 year low of $105.58 and a 1 year high of $238.93. The stock has a 50 day moving average price of $221.91 and a 200 day moving average price of $193.84. The firm has a market cap of $9.17 billion, a P/E ratio of 70.44 and a beta of 1.39.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.08. Onto Innovation had a net margin of 16.43% and a return on equity of 11.48%. The firm had revenue of $228.80 million during the quarter, compared to analysts’ expectations of $222.60 million. During the same period in the prior year, the company earned $0.92 EPS. The firm’s revenue was up 14.9% on a year-over-year basis. Analysts forecast that Onto Innovation Inc. will post 5.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ONTO has been the subject of several recent analyst reports. B. Riley lifted their price target on Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Evercore ISI upped their price target on shares of Onto Innovation from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Jefferies Financial Group began coverage on shares of Onto Innovation in a report on Monday, May 13th. They issued a “buy” rating and a $265.00 price target on the stock. Stifel Nicolaus boosted their price objective on shares of Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Needham & Company LLC restated a “hold” rating on shares of Onto Innovation in a report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Onto Innovation currently has a consensus rating of “Moderate Buy” and an average target price of $259.00.

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.