Transamerica Financial Advisors Inc. Makes New $4.18 Million Investment in Onto Innovation Inc. (NYSE:ONTO)

Transamerica Financial Advisors Inc. bought a new stake in Onto Innovation Inc. (NYSE:ONTO) in the third quarter, Holdings Channel.com reports. The firm bought 20,119 shares of the semiconductor company’s stock, valued at approximately $4,176,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. QRG Capital Management Inc. grew its holdings in Onto Innovation by 2.7% in the 2nd quarter. QRG Capital Management Inc. now owns 1,935 shares of the semiconductor company’s stock valued at $425,000 after buying an additional 50 shares in the last quarter. Magnetar Financial LLC grew its position in Onto Innovation by 4.0% in the second quarter. Magnetar Financial LLC now owns 1,622 shares of the semiconductor company’s stock worth $356,000 after acquiring an additional 63 shares during the period. Shaker Investments LLC OH increased its stake in Onto Innovation by 1.7% during the second quarter. Shaker Investments LLC OH now owns 3,928 shares of the semiconductor company’s stock worth $862,000 after acquiring an additional 64 shares during the last quarter. Quarry LP raised its position in Onto Innovation by 232.4% in the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 79 shares during the period. Finally, Hunter Perkins Capital Management LLC grew its holdings in shares of Onto Innovation by 3.6% during the 3rd quarter. Hunter Perkins Capital Management LLC now owns 2,325 shares of the semiconductor company’s stock worth $483,000 after purchasing an additional 80 shares during the period. 98.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total value of $264,231.00. Following the transaction, the senior vice president now directly owns 16,050 shares in the company, valued at $3,326,202. This trade represents a 7.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

ONTO has been the subject of a number of research reports. Oppenheimer lifted their price objective on Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Needham & Company LLC cut their price target on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Benchmark restated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, November 1st. Finally, Jefferies Financial Group reduced their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Onto Innovation currently has an average rating of “Moderate Buy” and an average target price of $254.29.

Onto Innovation Trading Up 1.3 %

ONTO stock traded up $2.22 during trading on Tuesday, hitting $167.41. 101,522 shares of the company’s stock were exchanged, compared to its average volume of 591,890. The business has a 50-day moving average price of $193.69 and a two-hundred day moving average price of $204.49. Onto Innovation Inc. has a 52-week low of $134.11 and a 52-week high of $238.93. The stock has a market capitalization of $8.27 billion, a price-to-earnings ratio of 44.77, a PEG ratio of 1.06 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. The firm had revenue of $252.20 million during the quarter, compared to analysts’ expectations of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The business’s revenue was up 21.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.96 EPS. On average, equities research analysts anticipate that Onto Innovation Inc. will post 5.22 earnings per share for the current fiscal year.

About Onto Innovation

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.