Onto Innovation Inc. (NYSE:ONTO) Shares Acquired by Portside Wealth Group LLC

Portside Wealth Group LLC grew its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 49.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,557 shares of the semiconductor company’s stock after acquiring an additional 513 shares during the quarter. Portside Wealth Group LLC’s holdings in Onto Innovation were worth $323,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Quarry LP lifted its stake in Onto Innovation by 232.4% during the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Onto Innovation by 675.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 108 shares during the period. LGT Financial Advisors LLC lifted its position in shares of Onto Innovation by 58.1% in the 2nd 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 in the last quarter. Fifth Third Bancorp boosted its stake 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 period. Finally, Eastern Bank purchased a new position in Onto Innovation during the 3rd quarter worth approximately $65,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Insider Buying and Selling 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 value of $264,231.00. Following the transaction, the senior vice president now directly owns 16,050 shares in the company, valued at approximately $3,326,202. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ONTO shares. Stifel Nicolaus raised their target price on Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Benchmark restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, November 1st. Oppenheimer upped their target price on Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, November 1st. 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. Finally, Needham & Company LLC dropped their price objective on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $254.29.

Onto Innovation Stock Performance

Shares of NYSE ONTO opened at $176.04 on Friday. The business’s 50-day simple moving average is $199.08 and its 200-day simple moving average is $206.48. Onto Innovation Inc. has a 52 week low of $118.90 and a 52 week high of $238.93. The firm has a market cap of $8.69 billion, a price-to-earnings ratio of 47.71, a P/E/G ratio of 1.15 and a beta of 1.37.

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