Sei Investments Co. Buys 35,356 Shares of Onto Innovation Inc. (NYSE:ONTO)

Sei Investments Co. raised its stake in Onto Innovation Inc. (NYSE:ONTO) by 24.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 178,984 shares of the semiconductor company’s stock after purchasing an additional 35,356 shares during the quarter. Sei Investments Co. owned 0.36% of Onto Innovation worth $39,298,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fidelis Capital Partners LLC bought a new stake in Onto Innovation in the first quarter valued at approximately $28,000. Rise Advisors LLC purchased a new position in shares of Onto Innovation during the first quarter valued at approximately $38,000. GAMMA Investing LLC increased its stake in shares of Onto Innovation by 41.1% during the first quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 85 shares during the period. LGT Financial Advisors LLC increased its stake 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 valued at $54,000 after buying an additional 90 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of Onto Innovation by 43.0% during the fourth quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company’s stock valued at $56,000 after buying an additional 110 shares during the period. Institutional investors own 98.35% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ONTO shares. B. Riley boosted their target price on Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Benchmark reaffirmed a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, August 9th. Needham & Company LLC raised Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. Finally, Stifel Nicolaus upped their price target on Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Onto Innovation currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.00.

Onto Innovation Trading Up 0.3 %

Onto Innovation stock opened at $200.52 on Tuesday. The business’s fifty day simple moving average is $195.95 and its two-hundred day simple moving average is $201.95. Onto Innovation Inc. has a 12 month low of $108.98 and a 12 month high of $238.93. The company has a market capitalization of $9.88 billion, a price-to-earnings ratio of 71.36 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, August 8th. The semiconductor company reported $1.32 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 business had revenue of $242.33 million for the quarter, compared to the consensus estimate of $235.43 million. During the same period in the previous year, the company 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, equities research analysts predict that Onto Innovation Inc. will post 5.18 EPS for the current year.

Insider Activity

In other news, SVP Srinivas Vedula sold 1,275 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total transaction of $264,231.00. Following the transaction, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at $3,326,202. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.72% of the company’s stock.

Onto Innovation 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.