Hantz Financial Services Inc. Boosts Position in Onto Innovation Inc. (NYSE:ONTO)

Hantz Financial Services Inc. grew its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 559.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,119 shares of the semiconductor company's stock after acquiring an additional 42,518 shares during the quarter. Hantz Financial Services Inc. owned about 0.10% of Onto Innovation worth $10,403,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ONTO. Congress Asset Management Co. lifted its position in Onto Innovation by 38.1% in the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company's stock valued at $222,670,000 after acquiring an additional 295,869 shares in the last quarter. Geneva Capital Management LLC lifted its holdings in shares of Onto Innovation by 2.6% in the third quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company's stock valued at $195,032,000 after purchasing an additional 23,628 shares in the last quarter. Massachusetts Financial Services Co. MA boosted 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 valued at $188,115,000 after buying an additional 189,769 shares during the last quarter. FMR LLC boosted its position in shares of Onto Innovation by 20.5% during the third quarter. FMR LLC now owns 825,682 shares of the semiconductor company's stock valued at $171,379,000 after buying an additional 140,659 shares during the last quarter. Finally, Driehaus Capital Management LLC grew its holdings in Onto Innovation by 2.0% during the second quarter. Driehaus Capital Management LLC now owns 535,769 shares of the semiconductor company's stock worth $117,633,000 after buying an additional 10,328 shares in the last quarter. Institutional investors own 98.35% of the company's stock.

Onto Innovation Stock Up 1.9 %

ONTO traded up $3.14 during trading on Friday, hitting $164.18. 449,965 shares of the company traded hands, compared to its average volume of 593,872. Onto Innovation Inc. has a one year low of $134.11 and a one year high of $238.93. The stock's fifty day moving average is $191.02 and its 200 day moving average is $203.06. The firm has a market cap of $8.11 billion, a P/E ratio of 44.49, a price-to-earnings-growth ratio of 1.03 and a beta of 1.37.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.03. The firm had revenue of $252.20 million for the quarter, compared to analysts' expectations 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 previous year, the company earned $0.96 earnings per share. On average, equities research analysts forecast that Onto Innovation Inc. will post 5.22 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Srinivas Vedula sold 1,275 shares of the company'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 directly owns 16,050 shares in the company, valued at approximately $3,326,202. This represents a 7.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ONTO shares. Needham & Company LLC dropped their price objective on Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Jefferies Financial Group lowered their target price on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a report on Friday, November 1st. Oppenheimer raised their price target on shares of Onto Innovation from $260.00 to $275.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Finally, Benchmark reaffirmed a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a research 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's stock. According to data from MarketBeat, Onto Innovation has an average rating of "Moderate Buy" and an average price target of $254.29.

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.