Liberty Wealth Management LLC raised its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 7,203.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 14,900 shares of the semiconductor company’s stock after purchasing an additional 14,696 shares during the period. Liberty Wealth Management LLC’s holdings in Onto Innovation were worth $204,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Eaton Vance Management bought a new stake in shares of Onto Innovation during the 1st quarter valued at $28,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Onto Innovation during the first quarter worth about $31,000. Point72 Hong Kong Ltd purchased a new position in Onto Innovation in the 1st quarter worth approximately $53,000. O Shaughnessy Asset Management LLC grew its holdings in Onto Innovation by 750.0% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 935 shares of the semiconductor company’s stock valued at $68,000 after buying an additional 825 shares in the last quarter. Finally, Stephens Inc. AR lifted its holdings in shares of Onto Innovation by 470.0% in the second quarter. Stephens Inc. AR now owns 1,140 shares of the semiconductor company’s stock worth $83,000 after buying an additional 940 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.
A number of equities analysts recently commented on the company. Zacks Investment Research lowered Onto Innovation from a “strong-buy” rating to a “hold” rating and set a $78.00 price target for the company. in a research note on Wednesday, October 6th. B. Riley boosted their target price on shares of Onto Innovation from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, August 6th. Finally, Needham & Company LLC lifted their price target on Onto Innovation from $76.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, August 6th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Onto Innovation presently has an average rating of “Buy” and a consensus target price of $86.00.
Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, August 5th. The semiconductor company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.12. Onto Innovation had a return on equity of 10.72% and a net margin of 13.53%. The firm had revenue of $193.39 million for the quarter, compared to analysts’ expectations of $178.55 million. As a group, analysts predict that Onto Innovation Inc. will post 3.56 earnings per share for the current fiscal year.
In related news, CEO Michael P. Plisinski sold 29,592 shares of the firm’s stock in a transaction dated Friday, August 6th. The shares were sold at an average price of $75.34, for a total value of $2,229,461.28. Following the transaction, the chief executive officer now owns 217,643 shares of the company’s stock, valued at approximately $16,397,223.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is currently owned by insiders.
Onto Innovation Profile
Onto Innovation, Inc engages in developing process control systems. It offers process control, combining global scale with an expanded portfolio of technologies that include: 3D metrology spanning the chip from nanometer-scale transistors to micron-level die-interconnects, macro defect inspection of wafers and packages, metal interconnect composition, factory analytics, and lithography for advanced semiconductor packaging.
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