Hennion & Walsh Asset Management Inc. Has $1.20 Million Holdings in Onto Innovation Inc. (NYSE:ONTO)

Hennion & Walsh Asset Management Inc. grew its holdings in Onto Innovation Inc. (NYSE:ONTO) by 37.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,775 shares of the semiconductor company’s stock after purchasing an additional 1,585 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Onto Innovation were worth $1,199,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ONTO. Quarry LP increased its stake in Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Onto Innovation by 675.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 108 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in Onto Innovation during the first quarter valued at $28,000. LGT Financial Advisors LLC boosted its position in Onto Innovation by 58.1% during the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock valued at $54,000 after purchasing an additional 90 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in Onto Innovation by 40.2% in the 2nd quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock worth $64,000 after purchasing an additional 84 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ONTO. Stifel Nicolaus lifted their price target on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 15th. Oppenheimer boosted their target price on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Benchmark restated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, August 9th. Finally, Needham & Company LLC upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a report on Monday, August 19th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $261.67.

Onto Innovation Trading Up 0.7 %

NYSE ONTO opened at $204.39 on Friday. The company has a market cap of $10.09 billion, a P/E ratio of 61.01, a P/E/G ratio of 1.32 and a beta of 1.36. Onto Innovation Inc. has a 1 year low of $108.98 and a 1 year high of $238.93. The company has a fifty day simple moving average of $203.78 and a 200 day simple moving average of $206.10.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.12. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The company had revenue of $242.33 million for the quarter, compared to the consensus estimate of $235.43 million. During the same period last year, the business posted $0.79 earnings per share. The firm’s revenue was up 27.1% compared to the same quarter last year. Equities research analysts forecast that Onto Innovation Inc. will post 5.18 EPS for the current fiscal year.

Insider Transactions at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were 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 of the company’s stock, valued at approximately $3,326,202. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

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.