Squarepoint Ops LLC Makes New Investment in Onto Innovation Inc. (NYSE:ONTO)

Squarepoint Ops LLC acquired a new position in shares of Onto Innovation Inc. (NYSE:ONTO) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 61,710 shares of the semiconductor company’s stock, valued at approximately $13,549,000. Squarepoint Ops LLC owned 0.13% of Onto Innovation as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Onto Innovation by 24.6% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 202,425 shares of the semiconductor company’s stock worth $44,444,000 after acquiring an additional 39,955 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in Onto Innovation by 98.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company’s stock valued at $1,218,000 after buying an additional 2,753 shares during the last quarter. Nordea Investment Management AB increased its stake in Onto Innovation by 17.8% in the 1st quarter. Nordea Investment Management AB now owns 102,103 shares of the semiconductor company’s stock valued at $18,586,000 after buying an additional 15,451 shares during the last quarter. Public Employees Retirement Association of Colorado increased its stake in Onto Innovation by 45.7% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 105,267 shares of the semiconductor company’s stock valued at $23,112,000 after buying an additional 33,025 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its stake in Onto Innovation by 36.8% in the 4th quarter. Eagle Asset Management Inc. now owns 295,824 shares of the semiconductor company’s stock valued at $45,231,000 after buying an additional 79,530 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Trading Down 3.3 %

Shares of NYSE:ONTO opened at $215.37 on Friday. The firm has a 50 day moving average of $195.49 and a 200-day moving average of $202.20. The stock has a market capitalization of $10.61 billion, a PE ratio of 76.64 and a beta of 1.37. Onto Innovation Inc. has a 12 month low of $108.98 and a 12 month high of $238.93.

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, topping analysts’ consensus estimates of $1.20 by $0.12. The business had revenue of $242.33 million during the quarter, compared to analysts’ expectations of $235.43 million. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The firm’s quarterly revenue was up 27.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 EPS. On average, research analysts predict that Onto Innovation Inc. will post 5.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. The transaction 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.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Stifel Nicolaus lifted their price objective on shares of Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Oppenheimer assumed coverage on shares of Onto Innovation in a research report on Wednesday. They issued an “outperform” rating and a $260.00 price objective for the company. Benchmark reissued a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, August 9th. Needham & Company LLC raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a research report on Monday, August 19th. Finally, B. Riley lifted their price objective on shares of Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. 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 data from MarketBeat, Onto Innovation has an average rating of “Moderate Buy” and an average price target of $259.17.

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.