Parametrica Management Ltd Acquires New Position in Onto Innovation Inc. (NYSE:ONTO)

Parametrica Management Ltd acquired a new stake in Onto Innovation Inc. (NYSE:ONTO) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,519 shares of the semiconductor company’s stock, valued at approximately $315,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ONTO. Millennium Management LLC grew its holdings in shares of Onto Innovation by 304.9% during the second quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company’s stock valued at $98,329,000 after purchasing an additional 337,250 shares during the last quarter. Congress Asset Management Co. grew its holdings in shares of Onto Innovation by 38.1% during the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock valued at $222,670,000 after purchasing an additional 295,869 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Onto Innovation by 379.8% during 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 boosted its position 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 worth $188,115,000 after buying an additional 189,769 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Onto Innovation during the third quarter worth approximately $30,418,000. 98.35% of the stock is owned by institutional investors.

Onto Innovation Stock Down 1.2 %

ONTO traded down $2.15 during trading on Wednesday, reaching $172.60. The stock had a trading volume of 58,712 shares, compared to its average volume of 580,944. The firm has a market capitalization of $8.52 billion, a price-to-earnings ratio of 47.38, a price-to-earnings-growth ratio of 1.12 and a beta of 1.37. Onto Innovation Inc. has a 1-year low of $131.78 and a 1-year high of $238.93. The stock has a 50 day moving average of $198.31 and a two-hundred day moving average of $206.85.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.03. The company had revenue of $252.20 million for the quarter, compared to analysts’ expectations of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The firm’s revenue was up 21.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 earnings per share. On average, research analysts forecast that Onto Innovation Inc. will post 5.19 EPS for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total value of $264,231.00. Following the transaction, the senior vice president now owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. This represents 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 hyperlink. 0.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ONTO. Needham & Company LLC reduced their price objective on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Benchmark reiterated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, November 1st. Oppenheimer boosted their price objective on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Jefferies Financial Group reduced their price objective on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $254.29.

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.