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

Versor Investments LP boosted its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 266.7% during the third quarter, HoldingsChannel reports. The fund owned 4,400 shares of the semiconductor company’s stock after purchasing an additional 3,200 shares during the quarter. Versor Investments LP’s holdings in Onto Innovation were worth $913,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ONTO. Millennium Management LLC raised its position in shares of Onto Innovation by 304.9% during the second quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company’s stock worth $98,329,000 after acquiring an additional 337,250 shares during the last quarter. Congress Asset Management Co. raised its holdings in Onto Innovation by 38.1% during the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after purchasing an additional 295,869 shares during the last quarter. Natixis Advisors LLC lifted its position in shares of Onto Innovation by 379.8% in the 2nd quarter. Natixis Advisors LLC now owns 245,144 shares of the semiconductor company’s stock worth $53,824,000 after purchasing an additional 194,056 shares during the period. Massachusetts Financial Services Co. MA increased 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 worth $188,115,000 after buying an additional 189,769 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in Onto Innovation in the third quarter valued at $30,418,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Benchmark reiterated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, November 1st. Needham & Company LLC cut their target price 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. Jefferies Financial Group dropped their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, Oppenheimer boosted their target price 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 research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $254.29.

Insiders Place Their Bets

In other news, SVP Srinivas Vedula sold 1,275 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.72% of the company’s stock.

Onto Innovation Stock Performance

Shares of NYSE ONTO opened at $174.84 on Wednesday. The stock has a fifty day moving average of $198.31 and a 200-day moving average of $206.85. The stock has a market cap of $8.64 billion, a PE ratio of 47.38, a price-to-earnings-growth ratio of 1.13 and a beta of 1.37. Onto Innovation Inc. has a fifty-two week low of $131.78 and a fifty-two week high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $250.85 million. During the same quarter in the previous year, the firm earned $0.96 EPS. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. On average, sell-side analysts predict that Onto Innovation Inc. will post 5.19 EPS for the current year.

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.