PDT Partners LLC Has $1.14 Million Stock Position in Onto Innovation Inc. (NYSE:ONTO)

PDT Partners LLC raised its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 181.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,502 shares of the semiconductor company's stock after buying an additional 3,545 shares during the period. PDT Partners LLC's holdings in Onto Innovation were worth $1,142,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ONTO. Quarry LP boosted its holdings in shares of Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company's stock valued at $25,000 after buying an additional 79 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company's stock valued at $27,000 after acquiring an additional 108 shares during the period. LGT Financial Advisors LLC increased its stake in shares of Onto Innovation by 58.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company's stock worth $54,000 after purchasing an additional 90 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Onto Innovation by 40.2% in the 2nd quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company's stock valued at $64,000 after purchasing an additional 84 shares during the period. Finally, Eastern Bank acquired a new stake in Onto Innovation in the 3rd quarter valued at about $65,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Stock Up 4.1 %

Shares of ONTO traded up $6.67 during midday trading on Monday, reaching $170.85. 990,668 shares of the stock were exchanged, compared to its average volume of 595,582. The stock's 50 day simple moving average is $190.42 and its 200 day simple moving average is $202.30. The company has a market cap of $8.44 billion, a P/E ratio of 46.30, a PEG ratio of 1.05 and a beta of 1.37. Onto Innovation Inc. has a twelve month low of $134.11 and a twelve month high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $250.85 million. During the same quarter in the previous year, the company earned $0.96 EPS. The business's revenue was up 21.7% on a year-over-year basis. As a group, analysts predict that Onto Innovation Inc. will post 5.22 earnings per share for the current year.

Insider Activity at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was 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 $3,326,202. The trade was a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ONTO. Oppenheimer boosted their price target on Onto Innovation from $260.00 to $275.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Needham & Company LLC decreased their target price on Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Benchmark reaffirmed a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, November 1st. Finally, Jefferies Financial Group decreased their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating on the stock in a 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $254.29.

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.