Smith Shellnut Wilson LLC ADV Invests $366,000 in Onto Innovation Inc. (NYSE:ONTO)

Smith Shellnut Wilson LLC ADV bought a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,667 shares of the semiconductor company’s stock, valued at approximately $366,000.

Other institutional investors have also bought and sold shares of the company. Fidelis Capital Partners LLC bought a new position in shares of Onto Innovation during the 1st quarter worth approximately $28,000. GAMMA Investing LLC purchased a new position in Onto Innovation in the fourth quarter worth $33,000. Rise Advisors LLC bought a new stake in shares of Onto Innovation during the 1st quarter worth $38,000. Parallel Advisors LLC lifted its stake in Onto Innovation by 43.0% in the fourth quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company’s stock valued at $56,000 after purchasing an additional 110 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in Onto Innovation by 40.2% during the second quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock valued at $64,000 after purchasing an additional 84 shares during the period. Institutional investors own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ONTO shares. Needham & Company LLC upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. Benchmark reiterated a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, August 9th. B. Riley upped their target price on Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Jefferies Financial Group began coverage on Onto Innovation in a report on Monday, May 13th. They set a “buy” rating and a $265.00 price objective for the company. Finally, Evercore ISI raised their target price on shares of Onto Innovation from $235.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $259.00.

Insiders Place Their Bets

In other news, CFO Mark Slicer sold 519 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $221.21, for a total value of $114,807.99. Following the completion of the transaction, the chief financial officer now owns 12,552 shares in the company, valued at approximately $2,776,627.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Mark Slicer sold 519 shares of Onto Innovation stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $221.21, for a total transaction of $114,807.99. Following the completion of the transaction, the chief financial officer now directly owns 12,552 shares of the company’s stock, valued at approximately $2,776,627.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Srinivas Vedula sold 1,486 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $213.40, for a total transaction of $317,112.40. Following the completion of the sale, the senior vice president now owns 17,433 shares in the company, valued at approximately $3,720,202.20. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Onto Innovation Stock Performance

NYSE:ONTO traded up $1.91 during midday trading on Tuesday, reaching $210.33. 256,156 shares of the stock traded hands, compared to its average volume of 541,429. The stock has a market capitalization of $10.36 billion, a P/E ratio of 74.85 and a beta of 1.39. Onto Innovation Inc. has a 12 month low of $108.98 and a 12 month high of $238.93. The company has a fifty day moving average of $207.24 and a 200 day moving average of $200.07.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.12. Onto Innovation had a net margin of 16.43% and a return on equity of 11.48%. The company had revenue of $242.33 million during the quarter, compared to analyst estimates of $235.43 million. During the same period in the prior year, the business posted $0.79 earnings per share. Onto Innovation’s revenue for the quarter was up 27.1% on a year-over-year basis. On average, analysts predict that Onto Innovation Inc. will post 5.05 EPS 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.