PDT Partners LLC Purchases 3,545 Shares of Onto Innovation Inc. (NYSE:ONTO)

PDT Partners LLC raised its position in Onto Innovation Inc. (NYSE:ONTO) by 181.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Congress Asset Management Co. raised its stake in shares of Onto Innovation by 38.1% in 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 acquiring an additional 295,869 shares during the last quarter. Geneva Capital Management LLC increased its holdings in Onto Innovation by 2.6% during the 3rd quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company’s stock valued at $195,032,000 after purchasing an additional 23,628 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Onto Innovation by 28.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock valued at $188,115,000 after purchasing an additional 189,769 shares in the last quarter. FMR LLC raised its position in Onto Innovation by 20.5% in the 3rd quarter. FMR LLC now owns 825,682 shares of the semiconductor company’s stock valued at $171,379,000 after purchasing an additional 140,659 shares during the last quarter. Finally, Driehaus Capital Management LLC boosted its stake in Onto Innovation by 2.0% in the second quarter. Driehaus Capital Management LLC now owns 535,769 shares of the semiconductor company’s stock worth $117,633,000 after purchasing an additional 10,328 shares in the last quarter. 98.35% of the stock is owned by institutional investors.

Onto Innovation Trading Up 1.9 %

ONTO stock opened at $164.18 on Monday. The stock has a market capitalization of $8.11 billion, a P/E ratio of 44.49, a price-to-earnings-growth ratio of 1.05 and a beta of 1.37. The firm has a 50-day moving average price of $191.02 and a 200-day moving average price of $202.67. Onto Innovation Inc. has a 12 month low of $134.11 and a 12 month high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The business had revenue of $252.20 million during the quarter, compared to the consensus estimate of $250.85 million. During the same period in the prior year, the business posted $0.96 earnings per share. Onto Innovation’s quarterly revenue was up 21.7% on a year-over-year basis. As a group, equities analysts predict that Onto Innovation Inc. will post 5.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other Onto Innovation 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 transaction of $264,231.00. Following the completion of the sale, the senior vice president now owns 16,050 shares in the company, valued at approximately $3,326,202. The trade was a 7.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.72% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ONTO. Benchmark reaffirmed a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, November 1st. Jefferies Financial Group dropped their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Oppenheimer increased their price target on shares of Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Needham & Company LLC dropped their price objective on shares of Onto Innovation from $245.00 to $230.00 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 assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.