Nicolet Advisory Services LLC Raises Position in Onto Innovation Inc. (NYSE:ONTO)

Nicolet Advisory Services LLC grew its holdings in Onto Innovation Inc. (NYSE:ONTO) by 115.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,242 shares of the semiconductor company’s stock after buying an additional 1,203 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Onto Innovation were worth $463,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ONTO. Millennium Management LLC lifted its stake in Onto Innovation by 304.9% during the second quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company’s stock worth $98,329,000 after purchasing an additional 337,250 shares during the last quarter. Congress Asset Management Co. grew its position in Onto Innovation by 38.1% during the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after purchasing an additional 295,869 shares during the last quarter. Citigroup Inc. increased its position in Onto Innovation by 811.7% in the 3rd quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company’s stock valued at $66,236,000 after acquiring an additional 284,115 shares during the period. Natixis Advisors LLC increased its holdings in shares of Onto Innovation by 379.8% in 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 period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Onto Innovation by 28.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock worth $188,115,000 after acquiring an additional 189,769 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Performance

Shares of NYSE ONTO opened at $166.29 on Friday. The stock has a market cap of $8.21 billion, a PE ratio of 45.07, a PEG ratio of 1.07 and a beta of 1.37. Onto Innovation Inc. has a 52-week low of $134.11 and a 52-week high of $238.93. The business has a fifty day moving average of $194.17 and a two-hundred day moving average of $204.80.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 EPS 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 firm had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. During the same period last year, the company earned $0.96 EPS. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. Analysts predict that Onto Innovation Inc. will post 5.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ONTO. Oppenheimer increased 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. Needham & Company LLC cut their price target on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a report on Friday, November 1st. Jefferies Financial Group decreased their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Benchmark restated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, November 1st. One equities research 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, Onto Innovation presently has an average rating of “Moderate Buy” and an average price target of $254.29.

Insider Activity

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total transaction of $264,231.00. Following the completion of the transaction, the senior vice president now owns 16,050 shares in the company, valued at approximately $3,326,202. This represents a 7.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is owned by company insiders.

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.