Onto Innovation Inc. (NYSE:ONTO) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lifted its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,113 shares of the semiconductor company’s stock after purchasing an additional 480 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Onto Innovation were worth $4,175,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Onto Innovation by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 5,254,287 shares of the semiconductor company’s stock worth $951,446,000 after purchasing an additional 65,472 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Onto Innovation by 28.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock worth $188,115,000 after purchasing an additional 189,769 shares during the period. Hood River Capital Management LLC grew its stake in shares of Onto Innovation by 6.9% during the 1st quarter. Hood River Capital Management LLC now owns 672,230 shares of the semiconductor company’s stock worth $121,727,000 after purchasing an additional 43,132 shares during the period. Driehaus Capital Management LLC grew its stake in shares of Onto Innovation by 2.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 535,769 shares of the semiconductor company’s stock worth $117,633,000 after purchasing an additional 10,328 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Onto Innovation by 5.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 522,629 shares of the semiconductor company’s stock worth $114,748,000 after purchasing an additional 26,563 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Insider Buying and Selling at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation 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 in the company, valued at $3,326,202. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is currently owned by insiders.

Onto Innovation Stock Performance

Shares of ONTO stock opened at $201.28 on Thursday. The stock’s fifty day moving average is $204.03 and its two-hundred day moving average is $206.02. The firm has a market capitalization of $9.92 billion, a P/E ratio of 71.63, a PEG ratio of 1.36 and a beta of 1.36. Onto Innovation Inc. has a fifty-two week low of $108.98 and a fifty-two week high of $238.93.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data 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. The company had revenue of $242.33 million for the quarter, compared to analyst estimates of $235.43 million. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The firm’s revenue for the quarter was up 27.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 EPS. On average, equities analysts forecast that Onto Innovation Inc. will post 5.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Onto Innovation Company 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.