Wealthspire Advisors LLC decreased its stake in shares of Onto Innovation Inc. (NYSE:ONTO – Free Report) by 25.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,690 shares of the semiconductor company’s stock after selling 566 shares during the quarter. Wealthspire Advisors LLC’s holdings in Onto Innovation were worth $371,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of ONTO. Fidelis Capital Partners LLC bought a new position in Onto Innovation during the first quarter worth $28,000. Rise Advisors LLC bought a new position in shares of Onto Innovation during the 1st quarter worth about $38,000. GAMMA Investing LLC grew its stake in shares of Onto Innovation by 41.1% in the 1st quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 85 shares during the period. LGT Financial Advisors LLC raised its stake in 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 buying an additional 90 shares during the period. Finally, Parallel Advisors LLC raised its stake in Onto Innovation by 43.0% during the 4th quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company’s stock worth $56,000 after buying an additional 110 shares during the period. Institutional investors own 98.35% of the company’s stock.
Onto Innovation Price Performance
ONTO opened at $189.48 on Tuesday. Onto Innovation Inc. has a 1 year low of $108.98 and a 1 year high of $238.93. The company has a market capitalization of $9.34 billion, a price-to-earnings ratio of 67.43 and a beta of 1.37. The firm’s fifty day moving average price is $199.39 and its two-hundred day moving average price is $201.80.
Onto Innovation (NYSE:ONTO – Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $242.33 million during the quarter, compared to the consensus estimate of $235.43 million. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The firm’s quarterly revenue was up 27.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.79 EPS. As a group, equities analysts anticipate that Onto Innovation Inc. will post 5.18 EPS for the current year.
Insider Buying and Selling
In other news, SVP Srinivas Vedula sold 1,275 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total transaction of $264,231.00. Following the completion of the sale, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.72% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on ONTO shares. Benchmark restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, August 9th. Stifel Nicolaus boosted their price target on shares of Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 15th. B. Riley raised their price objective on shares of Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Finally, Needham & Company LLC raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a research report on Monday, August 19th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $259.00.
Check Out Our Latest Stock Analysis on Onto Innovation
Onto Innovation Company Profile
(Free Report)
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.
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