Los Angeles Capital Management LLC Purchases 10,994 Shares of Onto Innovation Inc. (NYSE:ONTO)

Los Angeles Capital Management LLC increased its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 9.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,326 shares of the semiconductor company's stock after purchasing an additional 10,994 shares during the period. Los Angeles Capital Management LLC owned 0.26% of Onto Innovation worth $26,428,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in shares of Onto Innovation by 386.3% in the first quarter. SG Americas Securities LLC now owns 7,406 shares of the semiconductor company's stock valued at $1,341,000 after buying an additional 5,883 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Onto Innovation in the first quarter valued at $204,000. Sei Investments Co. increased its holdings in shares of Onto Innovation by 15.1% in the first quarter. Sei Investments Co. now owns 143,628 shares of the semiconductor company's stock valued at $26,008,000 after buying an additional 18,843 shares in the last quarter. Meeder Advisory Services Inc. bought a new position in shares of Onto Innovation in the first quarter valued at $200,000. Finally, Headlands Technologies LLC bought a new position in shares of Onto Innovation in the first quarter valued at $90,000. Institutional investors own 98.35% of the company's stock.

Onto Innovation Stock Performance

Shares of NYSE ONTO traded down $1.43 during mid-day trading on Monday, reaching $174.61. The company had a trading volume of 727,893 shares, compared to its average volume of 581,749. Onto Innovation Inc. has a twelve month low of $131.78 and a twelve month high of $238.93. The stock has a market capitalization of $8.62 billion, a PE ratio of 47.38, a price-to-earnings-growth ratio of 1.13 and a beta of 1.37. The stock's 50 day moving average is $199.08 and its 200-day moving average is $206.90.

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

Analysts Set New Price Targets

Several research analysts have issued reports on ONTO shares. Oppenheimer upped their price target on Onto Innovation from $260.00 to $275.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Benchmark reaffirmed a "buy" rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, November 1st. Stifel Nicolaus boosted their target price on shares of Onto Innovation from $240.00 to $270.00 and gave the company a "buy" rating in a research note on Monday, July 15th. Needham & Company LLC reduced their target price on Onto Innovation from $245.00 to $230.00 and set a "buy" rating for the company in a report on Friday, November 1st. Finally, Jefferies Financial Group reduced their target price on Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Onto Innovation has a consensus rating of "Moderate Buy" and an average price target of $254.29.

Insider Transactions at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the 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 transaction, the senior vice president now directly owns 16,050 shares of the company's stock, valued at $3,326,202. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.72% of the stock is currently owned by company insiders.

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.