Sanctuary Advisors LLC Boosts Position in Onto Innovation Inc. (NYSE:ONTO)

Sanctuary Advisors LLC raised its position in Onto Innovation Inc. (NYSE:ONTO) by 108.3% during the 3rd quarter, Holdings Channel reports. The firm owned 2,370 shares of the semiconductor company’s stock after acquiring an additional 1,232 shares during the quarter. Sanctuary Advisors LLC’s holdings in Onto Innovation were worth $492,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Quarry LP grew 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 acquiring an additional 79 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position 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 valued at $27,000 after purchasing an additional 108 shares during the last quarter. LGT Financial Advisors LLC increased its stake in shares of Onto Innovation by 58.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 90 shares in the last quarter. Eastern Bank acquired a new position in shares of Onto Innovation during the 3rd quarter worth approximately $65,000. Finally, UMB Bank n.a. raised its position in shares of Onto Innovation by 62.0% during the 3rd quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock worth $67,000 after purchasing an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Oppenheimer reissued an “outperform” rating and set a $275.00 price target on shares of Onto Innovation in a research report on Tuesday, December 17th. Needham & Company LLC dropped their price objective on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Benchmark restated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. Finally, Jefferies Financial Group lowered 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. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $254.29.

Onto Innovation Trading Down 0.9 %

Shares of NYSE:ONTO opened at $172.70 on Thursday. The firm has a market cap of $8.53 billion, a price-to-earnings ratio of 46.80, a PEG ratio of 1.07 and a beta of 1.30. The stock’s 50-day moving average price is $177.38 and its two-hundred day moving average price is $196.12. Onto Innovation Inc. has a 12-month low of $134.11 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO) last released its 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 business had revenue of $252.20 million for the quarter, compared to analysts’ expectations of $250.85 million. During the same period last year, the company earned $0.96 earnings per share. The company’s quarterly revenue was up 21.7% on a year-over-year basis. As a group, research analysts forecast that Onto Innovation Inc. will post 5.22 earnings per share for the current fiscal year.

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.