Commonwealth Equity Services LLC Boosts Holdings in Onto Innovation Inc. (NYSE:ONTO)

Commonwealth Equity Services LLC lifted its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 22.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,766 shares of the semiconductor company’s stock after acquiring an additional 2,669 shares during the period. Commonwealth Equity Services LLC’s holdings in Onto Innovation were worth $2,674,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Hsbc Holdings PLC acquired a new position in shares of Onto Innovation in the 3rd quarter valued at $246,000. Stifel Financial Corp increased its stake in Onto Innovation by 18.8% during the third quarter. Stifel Financial Corp now owns 19,985 shares of the semiconductor company’s stock worth $2,548,000 after acquiring an additional 3,163 shares during the last quarter. Natixis Advisors L.P. lifted its stake in shares of Onto Innovation by 23.4% in the 3rd quarter. Natixis Advisors L.P. now owns 17,383 shares of the semiconductor company’s stock valued at $2,217,000 after purchasing an additional 3,292 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Onto Innovation by 28.5% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 3,217 shares of the semiconductor company’s stock worth $410,000 after purchasing an additional 714 shares during the period. Finally, Glenmede Trust Co. NA acquired a new stake in Onto Innovation during the 3rd quarter worth approximately $607,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Price Performance

Onto Innovation stock traded up $0.63 during midday trading on Friday, reaching $228.41. The stock had a trading volume of 62,259 shares, compared to its average volume of 499,405. The firm’s fifty day simple moving average is $218.10 and its two-hundred day simple moving average is $186.63. Onto Innovation Inc. has a twelve month low of $103.93 and a twelve month high of $238.13. The firm has a market cap of $11.26 billion, a price-to-earnings ratio of 80.73 and a beta of 1.39.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.08. Onto Innovation had a return on equity of 11.48% and a net margin of 16.43%. The firm had revenue of $228.80 million for the quarter, compared to analyst estimates of $222.60 million. During the same period in the previous year, the firm earned $0.92 earnings per share. Onto Innovation’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, sell-side analysts predict that Onto Innovation Inc. will post 5.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ONTO. Jefferies Financial Group assumed coverage on shares of Onto Innovation in a report on Monday, May 13th. They set a “buy” rating and a $265.00 target price on the stock. Stifel Nicolaus increased their target price on Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Benchmark lifted their price target on Onto Innovation from $180.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Needham & Company LLC restated a “hold” rating on shares of Onto Innovation in a research note on Friday, May 10th. Finally, B. Riley boosted their price target on Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $248.00.

Insider Activity

In related news, SVP Srinivas Vedula sold 1,486 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $213.40, for a total value of $317,112.40. Following the transaction, the senior vice president now directly owns 17,433 shares in the company, valued at approximately $3,720,202.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Onto Innovation news, SVP Srinivas Vedula sold 1,486 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $213.40, for a total value of $317,112.40. Following the sale, the senior vice president now owns 17,433 shares of the company’s stock, valued at approximately $3,720,202.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Slicer sold 519 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $221.21, for a total transaction of $114,807.99. Following the completion of the sale, the chief financial officer now directly owns 12,552 shares of the company’s stock, valued at $2,776,627.92. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

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.