2,900 Shares in Onto Innovation Inc. (NYSE:ONTO) Acquired by nVerses Capital LLC

nVerses Capital LLC bought a new position in shares of Onto Innovation Inc. (NYSE:ONTO) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,900 shares of the semiconductor company’s stock, valued at approximately $602,000.

A number of other large investors have also recently made changes to their positions in the company. Hunter Perkins Capital Management LLC increased its stake in Onto Innovation by 3.6% in the third quarter. Hunter Perkins Capital Management LLC now owns 2,325 shares of the semiconductor company’s stock valued at $483,000 after purchasing an additional 80 shares during the last quarter. Vontobel Holding Ltd. increased its stake in Onto Innovation by 157.3% in the third quarter. Vontobel Holding Ltd. now owns 9,995 shares of the semiconductor company’s stock valued at $2,075,000 after purchasing an additional 6,111 shares during the last quarter. Swedbank AB increased its stake in Onto Innovation by 32.2% in the third quarter. Swedbank AB now owns 82,500 shares of the semiconductor company’s stock valued at $17,124,000 after purchasing an additional 20,100 shares during the last quarter. Creative Planning increased its stake in Onto Innovation by 1.8% in the third quarter. Creative Planning now owns 28,215 shares of the semiconductor company’s stock valued at $5,856,000 after purchasing an additional 489 shares during the last quarter. Finally, Shaker Investments LLC OH increased its stake in Onto Innovation by 29.3% in the third quarter. Shaker Investments LLC OH now owns 5,077 shares of the semiconductor company’s stock valued at $1,054,000 after purchasing an additional 1,149 shares during the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on ONTO shares. Needham & Company LLC upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. Oppenheimer increased their price objective on Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. B. Riley increased their price objective on Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Benchmark reaffirmed a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, August 9th. Finally, Stifel Nicolaus increased their price target on Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $261.67.

Insider Buying and Selling

In related news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation 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 sale, the senior vice president now owns 16,050 shares in the company, valued at approximately $3,326,202. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by company insiders.

Onto Innovation Stock Up 2.5 %

Shares of ONTO stock opened at $209.67 on Friday. Onto Innovation Inc. has a fifty-two week low of $108.98 and a fifty-two week high of $238.93. The stock has a market cap of $10.33 billion, a P/E ratio of 74.62, a P/E/G ratio of 1.36 and a beta of 1.36. The business has a fifty day simple moving average of $203.20 and a 200-day simple moving average of $205.33.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates 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 during 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 business’s revenue for the quarter was up 27.1% on a year-over-year basis. On average, sell-side analysts anticipate that Onto Innovation Inc. will post 5.18 earnings per share for the current year.

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.