MQS Management LLC Buys Shares of 1,958 Onto Innovation Inc. (NYSE:ONTO)

MQS Management LLC purchased a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,958 shares of the semiconductor company’s stock, valued at approximately $430,000.

A number of other large investors have also recently made changes to their positions in ONTO. Fidelis Capital Partners LLC purchased a new stake in Onto Innovation in the first quarter worth approximately $28,000. Rise Advisors LLC purchased a new position in shares of Onto Innovation in the 1st quarter worth $38,000. GAMMA Investing LLC grew its holdings in shares of Onto Innovation by 41.1% in the first quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 85 shares during the period. LGT Financial Advisors LLC increased its position in Onto Innovation by 58.1% during the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock valued at $54,000 after acquiring an additional 90 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Onto Innovation by 43.0% in the fourth quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company’s stock valued at $56,000 after acquiring an additional 110 shares during the period. 98.35% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Srinivas Vedula sold 1,275 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was 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 owns 16,050 shares in the company, valued at $3,326,202. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. 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. Stifel Nicolaus increased their price target on shares of Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Benchmark reissued a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, August 9th. Finally, Needham & Company LLC raised Onto Innovation from a “hold” rating to a “buy” rating in a report on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Onto Innovation presently has an average rating of “Moderate Buy” and an average target price of $259.00.

Onto Innovation Trading Up 8.2 %

NYSE ONTO opened at $203.14 on Friday. Onto Innovation Inc. has a 12 month low of $108.98 and a 12 month high of $238.93. The stock has a market cap of $10.01 billion, a PE ratio of 72.29 and a beta of 1.37. The stock’s 50 day moving average is $197.11 and its 200 day moving average is $201.71.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.12. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The firm had revenue of $242.33 million for the quarter, compared to analysts’ expectations of $235.43 million. During the same quarter last year, the business posted $0.79 earnings per share. The company’s revenue for the quarter was up 27.1% compared to the same quarter last year. On average, analysts forecast that Onto Innovation Inc. will post 5.18 EPS for the current fiscal 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.