Mount Yale Investment Advisors LLC Grows Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Mount Yale Investment Advisors LLC boosted its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 183.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,018 shares of the semiconductor company's stock after purchasing an additional 3,245 shares during the quarter. Mount Yale Investment Advisors LLC's holdings in Onto Innovation were worth $1,042,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Millennium Management LLC grew its holdings in Onto Innovation by 304.9% during the 2nd quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company's stock valued at $98,329,000 after buying an additional 337,250 shares in the last quarter. Natixis Advisors LLC lifted its position in Onto Innovation by 379.8% in the second quarter. Natixis Advisors LLC now owns 245,144 shares of the semiconductor company's stock valued at $53,824,000 after purchasing an additional 194,056 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings 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 acquiring an additional 189,769 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Onto Innovation by 58.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 470,059 shares of the semiconductor company's stock valued at $85,118,000 after acquiring an additional 174,010 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of Onto Innovation during the first quarter valued at approximately $29,420,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Price Performance

NYSE ONTO traded up $1.51 during trading hours on Friday, reaching $204.39. The company's stock had a trading volume of 451,948 shares, compared to its average volume of 560,460. The firm has a market capitalization of $10.09 billion, a price-to-earnings ratio of 61.01, a P/E/G ratio of 1.32 and a beta of 1.36. Onto Innovation Inc. has a 1-year low of $108.98 and a 1-year high of $238.93. The company's 50-day moving average is $203.78 and its two-hundred day moving average is $206.10.

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

Insider Buying and Selling at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation stock in a transaction dated Tuesday, September 3rd. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Benchmark reaffirmed a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, August 9th. Needham & Company LLC raised Onto Innovation from a "hold" rating to a "buy" rating in a research note on Monday, August 19th. Oppenheimer lifted their target price on Onto Innovation from $260.00 to $275.00 and gave the company an "outperform" rating in a research note on Tuesday, October 1st. Finally, Stifel Nicolaus raised their price target on Onto Innovation from $240.00 to $270.00 and gave the company a "buy" rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $261.67.

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.