AlphaMark Advisors LLC Takes Position in Onto Innovation Inc. (NYSE:ONTO)

AlphaMark Advisors LLC bought a new position in Onto Innovation Inc. (NYSE:ONTO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,657 shares of the semiconductor company’s stock, valued at approximately $364,000.

Other hedge funds also recently made changes to their positions in the company. Raymond James & Associates increased its position in shares of Onto Innovation by 153.6% during the fourth quarter. Raymond James & Associates now owns 14,516 shares of the semiconductor company’s stock valued at $2,219,000 after buying an additional 8,792 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in Onto Innovation in the fourth quarter valued at about $207,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Onto Innovation by 4.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,604 shares of the semiconductor company’s stock valued at $3,609,000 after purchasing an additional 971 shares during the period. Louisiana State Employees Retirement System bought a new stake in Onto Innovation during the fourth quarter valued at approximately $2,110,000. Finally, Vontobel Holding Ltd. increased its stake in shares of Onto Innovation by 1.2% in the 4th quarter. Vontobel Holding Ltd. now owns 6,535 shares of the semiconductor company’s stock worth $999,000 after purchasing an additional 75 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Stock Performance

NYSE:ONTO traded up $11.78 during trading hours on Thursday, reaching $210.89. The stock had a trading volume of 379,807 shares, compared to its average volume of 552,033. The stock has a market capitalization of $10.39 billion, a PE ratio of 75.05 and a beta of 1.39. Onto Innovation Inc. has a 52 week low of $108.44 and a 52 week high of $238.93. The company has a 50 day moving average price of $208.92 and a two-hundred day moving average price of $196.99.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.20 by $0.12. The business had revenue of $242.33 million during the quarter, compared to analyst estimates of $235.43 million. Onto Innovation had a net margin of 16.43% and a return on equity of 11.48%. Onto Innovation’s quarterly revenue was up 27.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.79 earnings per share. Equities research analysts predict that Onto Innovation Inc. will post 5.05 EPS for the current year.

Insider Transactions at Onto Innovation

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

Analyst Ratings Changes

ONTO has been the subject of a number of analyst reports. B. Riley increased their price objective on shares of Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Evercore ISI raised their price target on Onto Innovation from $235.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, May 10th. Benchmark reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, August 9th. Stifel Nicolaus lifted their target price 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, Needham & Company LLC restated a “hold” rating on shares of Onto Innovation in a research note on Friday, May 10th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Onto Innovation has a consensus rating of “Moderate Buy” and an average price target 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.