Alpha DNA Investment Management LLC Invests $449,000 in Onto Innovation Inc. (NYSE:ONTO)

Alpha DNA Investment Management LLC acquired a new position in shares of Onto Innovation Inc. (NYSE:ONTO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,044 shares of the semiconductor company’s stock, valued at approximately $449,000.

Other hedge funds have also made changes to their positions in the company. Fidelis Capital Partners LLC acquired a new stake in shares of Onto Innovation during the first quarter worth $28,000. Rise Advisors LLC acquired a new position in Onto Innovation in the first quarter valued at $38,000. GAMMA Investing LLC boosted its holdings in Onto Innovation by 41.1% in the first quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 85 shares during the last quarter. LGT Financial Advisors LLC boosted its holdings in Onto Innovation by 58.1% in the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock valued at $54,000 after acquiring an additional 90 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Onto Innovation by 43.0% in the fourth quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company’s stock valued at $56,000 after acquiring an additional 110 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Stock Performance

Shares of NYSE ONTO opened at $203.72 on Thursday. Onto Innovation Inc. has a 1 year low of $108.98 and a 1 year high of $238.93. The firm has a market cap of $10.04 billion, a price-to-earnings ratio of 72.50 and a beta of 1.37. The stock’s 50-day simple moving average is $195.10 and its 200-day simple moving average is $202.06.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on ONTO shares. Stifel Nicolaus lifted their target price on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 15th. Needham & Company LLC upgraded Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. Oppenheimer started coverage on Onto Innovation in a research note on Wednesday. They set an “outperform” rating and a $260.00 price objective on the stock. B. Riley boosted their price objective on Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Finally, Benchmark restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $259.17.

Insider Transactions at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation 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 sale, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at $3,326,202. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate 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.