Parametrica Management Ltd Buys Shares of 1,519 Onto Innovation Inc. (NYSE:ONTO)

Parametrica Management Ltd purchased a new position in Onto Innovation Inc. (NYSE:ONTO) during the third quarter, Holdings Channel.com reports. The firm purchased 1,519 shares of the semiconductor company’s stock, valued at approximately $315,000.

Other hedge funds have also modified their holdings of the company. Vaughan Nelson Investment Management L.P. boosted its holdings in Onto Innovation by 24.6% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 202,425 shares of the semiconductor company’s stock worth $44,444,000 after purchasing an additional 39,955 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Onto Innovation by 98.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company’s stock valued at $1,218,000 after acquiring an additional 2,753 shares during the period. Public Employees Retirement Association of Colorado boosted its holdings in Onto Innovation by 45.7% during the second quarter. Public Employees Retirement Association of Colorado now owns 105,267 shares of the semiconductor company’s stock valued at $23,112,000 after acquiring an additional 33,025 shares during the period. Sei Investments Co. boosted its holdings in Onto Innovation by 15.1% during the first quarter. Sei Investments Co. now owns 143,628 shares of the semiconductor company’s stock valued at $26,008,000 after acquiring an additional 18,843 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in Onto Innovation by 7.0% during the first quarter. Bessemer Group Inc. now owns 119,890 shares of the semiconductor company’s stock valued at $21,709,000 after acquiring an additional 7,815 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ONTO has been the subject of a number of recent analyst reports. Jefferies Financial Group decreased their price target on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a report on Friday, November 1st. Needham & Company LLC decreased their price target on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a report on Friday, November 1st. Oppenheimer upped their price target on shares of Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Benchmark restated a “buy” rating and set a $230.00 price target on shares of Onto Innovation 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.29.

Onto Innovation Price Performance

Shares of NYSE ONTO traded down $2.15 during mid-day trading on Wednesday, hitting $172.60. The company had a trading volume of 58,712 shares, compared to its average volume of 580,944. The business’s 50-day simple moving average is $198.31 and its 200-day simple moving average is $206.85. Onto Innovation Inc. has a 12 month low of $131.78 and a 12 month high of $238.93. The firm has a market cap of $8.52 billion, a P/E ratio of 47.38, a PEG ratio of 1.12 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The firm had revenue of $252.20 million during the quarter, compared to analyst estimates of $250.85 million. During the same quarter in the prior year, the business posted $0.96 earnings per share. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. As a group, sell-side analysts predict that Onto Innovation Inc. will post 5.19 EPS for the current year.

Insider Buying and Selling

In related news, SVP Srinivas Vedula sold 1,275 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total value of $264,231.00. Following the completion of the transaction, the senior vice president now owns 16,050 shares of the company’s stock, valued at $3,326,202. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

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.