Onto Innovation Inc. (NYSE:ONTO) Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC decreased its holdings in Onto Innovation Inc. (NYSE:ONTO) by 40.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 611 shares of the semiconductor company’s stock after selling 421 shares during the quarter. GAMMA Investing LLC’s holdings in Onto Innovation were worth $102,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ONTO. Quarry LP boosted its stake in Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 108 shares during the period. Versant Capital Management Inc boosted its stake in Onto Innovation by 532.4% in the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 197 shares during the period. Eastern Bank acquired a new position in Onto Innovation in the 3rd quarter worth approximately $65,000. Finally, UMB Bank n.a. boosted its stake in Onto Innovation by 62.0% in 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 period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Trading Down 1.2 %

ONTO stock opened at $189.86 on Friday. Onto Innovation Inc. has a 1 year low of $138.27 and a 1 year high of $238.93. The company has a fifty day simple moving average of $171.03 and a 200 day simple moving average of $192.63. The firm has a market cap of $9.38 billion, a PE ratio of 51.45, a PEG ratio of 1.07 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $250.85 million. During the same quarter in the previous year, the business earned $0.96 EPS. Onto Innovation’s quarterly revenue was up 21.7% compared to the same quarter last year. As a group, analysts forecast that Onto Innovation Inc. will post 5.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on ONTO. Needham & Company LLC decreased their price objective on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Oppenheimer reissued an “outperform” rating and set a $275.00 target price on shares of Onto Innovation in a research note on Tuesday, December 17th. Jefferies Financial Group decreased their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Finally, Benchmark reissued a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $254.29.

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.