nVerses Capital LLC Invests $602,000 in Onto Innovation Inc. (NYSE:ONTO)

nVerses Capital LLC acquired a new position in Onto Innovation Inc. (NYSE:ONTO - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,900 shares of the semiconductor company's stock, valued at approximately $602,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. increased its position in shares of Onto Innovation by 24.6% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 202,425 shares of the semiconductor company's stock worth $44,444,000 after acquiring an additional 39,955 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in shares of Onto Innovation by 98.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company's stock worth $1,218,000 after acquiring an additional 2,753 shares during the period. Nordea Investment Management AB increased its position in shares of Onto Innovation by 17.8% during the first quarter. Nordea Investment Management AB now owns 102,103 shares of the semiconductor company's stock worth $18,586,000 after acquiring an additional 15,451 shares during the period. Public Employees Retirement Association of Colorado increased its position in shares of Onto Innovation by 45.7% during the second quarter. Public Employees Retirement Association of Colorado now owns 105,267 shares of the semiconductor company's stock worth $23,112,000 after acquiring an additional 33,025 shares during the period. Finally, Norden Group LLC purchased a new position in shares of Onto Innovation during the first quarter worth approximately $654,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Onto Innovation 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 completion of the transaction, the senior vice president now owns 16,050 shares of the company's stock, valued at approximately $3,326,202. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is currently owned by corporate insiders.

Onto Innovation Trading Up 0.0 %

Shares of NYSE:ONTO traded up $0.09 on Friday, hitting $209.76. 681,739 shares of the company were exchanged, compared to its average volume of 559,067. Onto Innovation Inc. has a 1-year low of $108.98 and a 1-year high of $238.93. The stock's 50 day moving average price is $203.20 and its 200 day moving average price is $205.33. The firm has a market capitalization of $10.34 billion, a P/E ratio of 74.62, a price-to-earnings-growth ratio of 1.36 and a beta of 1.36.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.12. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The firm had revenue of $242.33 million during the quarter, compared to analysts' expectations of $235.43 million. During the same quarter last year, the company posted $0.79 earnings per share. The firm's revenue was up 27.1% compared to the same quarter last year. On average, equities analysts predict that Onto Innovation Inc. will post 5.18 EPS for the current fiscal year.

Analysts Set New Price Targets

ONTO has been the topic of a number of research reports. Stifel Nicolaus raised their target price on shares of Onto Innovation from $240.00 to $270.00 and gave the stock a "buy" rating in a research report on Monday, July 15th. Benchmark reiterated a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, August 9th. B. Riley increased their price objective on shares of Onto Innovation from $250.00 to $280.00 and gave the company a "buy" rating in a research note on Thursday, June 20th. Needham & Company LLC upgraded shares of Onto Innovation from a "hold" rating to a "buy" rating in a research note on Monday, August 19th. Finally, Oppenheimer increased their price objective on shares of Onto Innovation from $260.00 to $275.00 and gave the company an "outperform" rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $261.67.

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.