Mount Yale Investment Advisors LLC Grows Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Mount Yale Investment Advisors LLC lifted its stake in Onto Innovation Inc. (NYSE:ONTO) by 183.0% during the third quarter, Holdings Channel reports. The institutional investor owned 5,018 shares of the semiconductor company’s stock after acquiring an additional 3,245 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Onto Innovation were worth $1,042,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP lifted its holdings in Onto Innovation by 232.4% in the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 108 shares during the period. Fidelis Capital Partners LLC purchased a new stake in Onto Innovation during the first quarter worth $28,000. LGT Financial Advisors LLC grew 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 buying an additional 90 shares during the period. Finally, Fifth Third Bancorp increased its holdings in Onto Innovation by 40.2% in the second quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock valued at $64,000 after buying an additional 84 shares in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Stock Up 0.7 %

Shares of ONTO opened at $204.36 on Friday. Onto Innovation Inc. has a 52-week low of $108.98 and a 52-week high of $238.93. The stock has a market cap of $10.09 billion, a PE ratio of 61.00, a price-to-earnings-growth ratio of 1.32 and a beta of 1.36. The firm’s fifty day moving average is $203.78 and its two-hundred day moving average is $206.10.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.12. The firm had revenue of $242.33 million for the quarter, compared to analyst estimates of $235.43 million. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. Onto Innovation’s quarterly revenue was up 27.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 earnings per share. As a group, research analysts anticipate that Onto Innovation Inc. will post 5.18 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ONTO shares. Needham & Company LLC raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. Oppenheimer increased their target price on Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Stifel Nicolaus boosted their price target on shares of Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Benchmark reaffirmed a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $261.67.

Insider Activity

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the business’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 owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company 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.