GSA Capital Partners LLP Takes Position in Onto Innovation Inc. (NYSE:ONTO)

GSA Capital Partners LLP bought a new stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,868 shares of the semiconductor company's stock, valued at approximately $1,426,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ONTO. Millennium Management LLC increased its position in shares of Onto Innovation by 304.9% during the second quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company's stock worth $98,329,000 after acquiring an additional 337,250 shares during the period. Congress Asset Management Co. increased its position in shares of Onto Innovation by 38.1% during the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company's stock worth $222,670,000 after acquiring an additional 295,869 shares during the period. Natixis Advisors LLC increased its position in shares of Onto Innovation by 379.8% during the second quarter. Natixis Advisors LLC now owns 245,144 shares of the semiconductor company's stock worth $53,824,000 after acquiring an additional 194,056 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Onto Innovation by 28.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company's stock worth $188,115,000 after acquiring an additional 189,769 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Onto Innovation during the third quarter worth $30,418,000. Hedge funds and other institutional investors own 98.35% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, SVP Srinivas Vedula sold 1,275 shares of the firm's stock in a transaction that occurred 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 sale, the senior vice president now owns 16,050 shares in the company, valued at approximately $3,326,202. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is owned by company insiders.

Onto Innovation Price Performance

Onto Innovation stock traded down $1.37 during mid-day trading on Thursday, reaching $163.37. The company had a trading volume of 221,512 shares, compared to its average volume of 582,935. Onto Innovation Inc. has a 1 year low of $131.78 and a 1 year high of $238.93. The company has a market capitalization of $8.07 billion, a P/E ratio of 44.66, a P/E/G ratio of 1.12 and a beta of 1.37. The stock's 50-day simple moving average is $197.60 and its 200-day simple moving average is $206.45.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.31 by $0.03. The business had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The company's quarterly revenue was up 21.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.96 earnings per share. On average, equities analysts forecast 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.