Central Asset Investments & Management Holdings HK Ltd Makes New Investment in Onto Innovation Inc. (NYSE:ONTO)

Central Asset Investments & Management Holdings HK Ltd bought a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,000 shares of the semiconductor company’s stock, valued at approximately $220,000.

A number of other hedge funds have also made changes to their positions in ONTO. QRG Capital Management Inc. increased its holdings in Onto Innovation by 2.7% in the second quarter. QRG Capital Management Inc. now owns 1,935 shares of the semiconductor company’s stock valued at $425,000 after buying an additional 50 shares during the last quarter. Shaker Investments LLC OH grew its position in shares of Onto Innovation by 1.7% in the 2nd quarter. Shaker Investments LLC OH now owns 3,928 shares of the semiconductor company’s stock worth $862,000 after acquiring an additional 64 shares in the last quarter. Fifth Third Bancorp increased 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 acquiring an additional 84 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Onto Innovation by 41.1% during the 1st quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 85 shares in the last quarter. Finally, CWM LLC lifted its stake in Onto Innovation by 8.9% during the second quarter. CWM LLC now owns 1,106 shares of the semiconductor company’s stock worth $243,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Insider Transactions at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 16,050 shares in the company, valued at $3,326,202. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Needham & Company LLC upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. B. Riley increased their price objective on shares of Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Benchmark reiterated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, August 9th. Finally, Stifel Nicolaus upped their price objective on Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $259.00.

Onto Innovation Price Performance

ONTO opened at $192.05 on Wednesday. The stock’s 50 day moving average price is $198.54 and its 200 day moving average price is $201.80. The stock has a market cap of $9.46 billion, a P/E ratio of 68.35 and a beta of 1.37. Onto Innovation Inc. has a 12 month low of $108.98 and a 12 month high of $238.93.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.12. The company had revenue of $242.33 million for the quarter, compared to analyst estimates of $235.43 million. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The company’s quarterly revenue was up 27.1% compared to the same quarter last year. During the same period last year, the company earned $0.79 earnings per share. Equities analysts anticipate that Onto Innovation Inc. will post 5.18 EPS for the current year.

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.