Onto Innovation Inc. (NYSE:ONTO) Shares Bought by Value Aligned Research Advisors LLC

Value Aligned Research Advisors LLC boosted its stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 12.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 243,027 shares of the semiconductor company's stock after purchasing an additional 26,013 shares during the period. Onto Innovation comprises approximately 13.1% of Value Aligned Research Advisors LLC's portfolio, making the stock its 2nd largest position. Value Aligned Research Advisors LLC owned 0.49% of Onto Innovation worth $50,443,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. grew its stake in Onto Innovation by 9.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 6,391 shares of the semiconductor company's stock worth $1,327,000 after acquiring an additional 562 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Onto Innovation by 52.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,435 shares of the semiconductor company's stock valued at $298,000 after purchasing an additional 493 shares in the last quarter. Braun Stacey Associates Inc. acquired a new stake in Onto Innovation in the third quarter valued at $22,949,000. Vaughan Nelson Investment Management L.P. lifted its position in shares of Onto Innovation by 42.4% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 288,215 shares of the semiconductor company's stock worth $59,821,000 after purchasing an additional 85,790 shares during the last quarter. Finally, Natixis Advisors LLC boosted its holdings in Onto Innovation by 3.4% in the third quarter. Natixis Advisors LLC now owns 253,600 shares of the semiconductor company's stock worth $52,637,000 after purchasing an additional 8,456 shares during the period. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of the business's 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 sale, the senior vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ONTO shares. Needham & Company LLC dropped their price target on Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. Benchmark reaffirmed a "buy" rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday, November 1st. Jefferies Financial Group reduced their price objective 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. Finally, Oppenheimer upped their price objective on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an "outperform" rating in a research note 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 company currently has a consensus rating of "Moderate Buy" and a consensus target price of $254.29.

Onto Innovation Stock Down 0.6 %

Shares of Onto Innovation stock traded down $0.98 during trading on Wednesday, reaching $161.86. The company's stock had a trading volume of 661,528 shares, compared to its average volume of 588,750. Onto Innovation Inc. has a 52-week low of $133.67 and a 52-week high of $238.93. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 44.11, a PEG ratio of 1.02 and a beta of 1.37. The firm's 50-day moving average is $195.99 and its two-hundred day moving average is $205.72.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.31 by $0.03. The firm had revenue of $252.20 million for the quarter, compared to the consensus estimate of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The company's revenue was up 21.7% on a year-over-year basis. During the same period last year, the firm earned $0.96 EPS. On average, equities research analysts anticipate that Onto Innovation Inc. will post 5.19 EPS for the current year.

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.