Onto Innovation Inc. (NYSE:ONTO) Shares Purchased by Nicholas Investment Partners LP

Nicholas Investment Partners LP boosted its stake in Onto Innovation Inc. (NYSE:ONTO) by 39.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 59,087 shares of the semiconductor company’s stock after buying an additional 16,624 shares during the period. Onto Innovation makes up approximately 1.3% of Nicholas Investment Partners LP’s portfolio, making the stock its 14th biggest position. Nicholas Investment Partners LP’s holdings in Onto Innovation were worth $12,973,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Fidelis Capital Partners LLC purchased a new stake in shares of Onto Innovation during the first quarter worth $28,000. Rise Advisors LLC purchased a new stake in Onto Innovation during the 1st quarter worth about $38,000. GAMMA Investing LLC raised its position in 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 purchasing an additional 85 shares in the last quarter. LGT Financial Advisors LLC boosted its stake 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 buying an additional 90 shares during the period. Finally, Parallel Advisors LLC grew its position in shares of Onto Innovation by 43.0% during the fourth quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company’s stock worth $56,000 after buying an additional 110 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total transaction of $264,231.00. Following the completion of the transaction, the senior vice president now owns 16,050 shares in the company, valued at approximately $3,326,202. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.72% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ONTO. Needham & Company LLC raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a report on Monday, August 19th. Stifel Nicolaus increased their price objective on shares of Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Benchmark reaffirmed a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, August 9th. Finally, B. Riley increased their target price on Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, June 20th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Onto Innovation currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.00.

Onto Innovation Stock Performance

Onto Innovation stock opened at $194.13 on Thursday. The company has a market capitalization of $9.57 billion, a P/E ratio of 69.09 and a beta of 1.37. Onto Innovation Inc. has a fifty-two week low of $108.98 and a fifty-two week high of $238.93. The stock has a 50-day simple moving average of $201.55 and a 200-day simple moving average of $201.40.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.12. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The company had revenue of $242.33 million for the quarter, compared to the consensus estimate of $235.43 million. During the same period last year, the firm posted $0.79 EPS. Onto Innovation’s revenue for the quarter was up 27.1% on a year-over-year basis. As a group, analysts forecast that Onto Innovation Inc. will post 5.18 earnings per share for the current 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.