PDT Partners LLC Buys 3,545 Shares of Onto Innovation Inc. (NYSE:ONTO)

PDT Partners LLC increased its stake in Onto Innovation Inc. (NYSE:ONTO) by 181.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,502 shares of the semiconductor company’s stock after purchasing an additional 3,545 shares during the quarter. PDT Partners LLC’s holdings in Onto Innovation were worth $1,142,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Millennium Management LLC raised its stake in Onto Innovation by 304.9% in the 2nd quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company’s stock valued at $98,329,000 after acquiring an additional 337,250 shares during the period. Congress Asset Management Co. raised its position in shares of Onto Innovation by 38.1% in the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock valued at $222,670,000 after purchasing an additional 295,869 shares during the period. Citigroup Inc. lifted its stake in shares of Onto Innovation by 811.7% during the 3rd quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company’s stock valued at $66,236,000 after buying an additional 284,115 shares in the last quarter. Natixis Advisors LLC boosted its holdings in Onto Innovation by 379.8% in the 2nd quarter. Natixis Advisors LLC now owns 245,144 shares of the semiconductor company’s stock worth $53,824,000 after buying an additional 194,056 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in Onto Innovation by 28.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock valued at $188,115,000 after buying an additional 189,769 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Benchmark reiterated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research report on Friday, November 1st. Oppenheimer upped their price target on Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Jefferies Financial Group cut their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, Needham & Company LLC decreased their target price on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $254.29.

Insider Buying and Selling

In related news, SVP Srinivas Vedula sold 1,275 shares of the business’s 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 transaction, the senior vice president now owns 16,050 shares in the company, valued at $3,326,202. The trade was a 7.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is owned by insiders.

Onto Innovation Trading Up 1.9 %

Shares of NYSE:ONTO opened at $164.18 on Monday. The stock has a market capitalization of $8.11 billion, a P/E ratio of 44.49, a price-to-earnings-growth ratio of 1.05 and a beta of 1.37. The stock’s 50-day moving average price is $191.02 and its 200-day moving average price is $202.67. Onto Innovation Inc. has a 12-month low of $134.11 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.03. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The company had revenue of $252.20 million during the quarter, compared to analysts’ expectations of $250.85 million. During the same period in the prior year, the business posted $0.96 EPS. Onto Innovation’s quarterly revenue was up 21.7% compared to the same quarter last year. As a group, research analysts predict that Onto Innovation Inc. will post 5.22 EPS for the current year.

About Onto Innovation

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.