Zweig DiMenna Associates LLC Has $5.65 Million Holdings in Onto Innovation Inc. (NYSE:ONTO)

Zweig DiMenna Associates LLC trimmed its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 32.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,218 shares of the semiconductor company’s stock after selling 13,232 shares during the period. Zweig DiMenna Associates LLC owned 0.06% of Onto Innovation worth $5,649,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ONTO. Quarry LP lifted its position in shares of Onto Innovation by 232.4% during the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 108 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Onto Innovation in the 1st quarter valued at $28,000. LGT Financial Advisors LLC raised its position 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 last quarter. Finally, Fifth Third Bancorp lifted its stake 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 valued at $64,000 after acquiring an additional 84 shares during the period. Institutional investors own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ONTO shares. Stifel Nicolaus lifted their price objective on Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Needham & Company LLC upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a report on Monday, August 19th. 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. Finally, Oppenheimer upped their target price on shares of Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $261.67.

Onto Innovation Stock Performance

ONTO opened at $202.89 on Friday. Onto Innovation Inc. has a twelve month low of $108.98 and a twelve month high of $238.93. The firm has a market cap of $10.02 billion, a PE ratio of 60.56, a price-to-earnings-growth ratio of 1.32 and a beta of 1.36. The firm’s fifty day moving average is $204.03 and its two-hundred day moving average is $206.02.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.12. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The company had revenue of $242.33 million during the quarter, compared to the consensus estimate of $235.43 million. During the same period in the prior year, the company earned $0.79 earnings per share. The company’s revenue for the quarter was up 27.1% compared to the same quarter last year. Equities analysts forecast that Onto Innovation Inc. will post 5.18 EPS for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of the 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 sale, the senior vice president now owns 16,050 shares of the company’s stock, valued at $3,326,202. This 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 at this hyperlink. Insiders own 0.72% of the company’s stock.

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.