Braun Stacey Associates Inc. Takes Position in Onto Innovation Inc. (NYSE:ONTO)

Braun Stacey Associates Inc. acquired a new position in Onto Innovation Inc. (NYSE:ONTO - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 110,567 shares of the semiconductor company's stock, valued at approximately $22,949,000. Braun Stacey Associates Inc. owned 0.22% of Onto Innovation as of its most recent filing with the SEC.

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

Insider Buying and Selling at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of the stock in a transaction that occurred 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. This trade represents a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.72% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on ONTO. Oppenheimer boosted their price target on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Needham & Company LLC lowered their price objective on Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. Jefferies Financial Group decreased their price target on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Finally, Benchmark reissued a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $254.29.

Onto Innovation Trading Up 0.8 %

ONTO traded up $1.22 on Monday, reaching $159.76. The stock had a trading volume of 342,714 shares, compared to its average volume of 584,774. The firm has a 50-day moving average of $196.76 and a 200-day moving average of $206.23. Onto Innovation Inc. has a fifty-two week low of $133.67 and a fifty-two week high of $238.93. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of 42.96, a price-to-earnings-growth ratio of 1.02 and a beta of 1.37.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $0.03. The company had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The firm's quarterly revenue was up 21.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 earnings per share. Sell-side analysts anticipate that Onto Innovation Inc. will post 5.19 EPS for the current fiscal year.

Onto Innovation 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.