Vaughan Nelson Investment Management L.P. Makes New Investment in Onto Innovation Inc. (NYSE:ONTO)

Vaughan Nelson Investment Management L.P. purchased a new position in shares of Onto Innovation Inc. (NYSE:ONTO) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 162,470 shares of the semiconductor company’s stock, valued at approximately $29,420,000. Vaughan Nelson Investment Management L.P. owned 0.33% of Onto Innovation at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of ONTO. International Assets Investment Management LLC increased its stake in Onto Innovation by 14,819.4% during the fourth quarter. International Assets Investment Management LLC now owns 615,575 shares of the semiconductor company’s stock worth $94,121,000 after purchasing an additional 611,449 shares during the period. Norges Bank purchased a new stake in Onto Innovation during the fourth quarter worth about $89,785,000. Price T Rowe Associates Inc. MD increased its stake in Onto Innovation by 64.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 946,879 shares of the semiconductor company’s stock worth $144,779,000 after purchasing an additional 371,641 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Onto Innovation by 854.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 296,049 shares of the semiconductor company’s stock worth $45,266,000 after purchasing an additional 265,042 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Onto Innovation by 48.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 404,599 shares of the semiconductor company’s stock worth $61,863,000 after purchasing an additional 132,661 shares during the period. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Onto Innovation Stock Up 2.3 %

Shares of Onto Innovation stock opened at $223.95 on Wednesday. The firm has a market capitalization of $11.04 billion, a P/E ratio of 79.70 and a beta of 1.39. Onto Innovation Inc. has a 52 week low of $103.93 and a 52 week high of $238.13. The firm’s 50 day moving average is $216.17 and its two-hundred day moving average is $186.05.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.10 by $0.08. The company had revenue of $228.80 million for the quarter, compared to analyst estimates of $222.60 million. Onto Innovation had a net margin of 16.43% and a return on equity of 11.48%. The firm’s revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 earnings per share. As a group, research analysts expect that Onto Innovation Inc. will post 5.05 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Srinivas Vedula sold 1,486 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $213.40, for a total value of $317,112.40. Following the completion of the sale, the senior vice president now directly owns 17,433 shares of the company’s stock, valued at $3,720,202.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Srinivas Vedula sold 1,486 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $213.40, for a total value of $317,112.40. Following the completion of the sale, the senior vice president now directly owns 17,433 shares of the company’s stock, valued at $3,720,202.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Slicer sold 519 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $221.21, for a total value of $114,807.99. Following the completion of the sale, the chief financial officer now directly owns 12,552 shares of the company’s stock, valued at $2,776,627.92. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Onto Innovation in a research note on Friday, May 10th. Evercore ISI upped their target price on shares of Onto Innovation from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Benchmark upped their target price on shares of Onto Innovation from $180.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Stifel Nicolaus upped their target price on shares of Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Finally, Jefferies Financial Group assumed coverage on shares of Onto Innovation in a research note on Monday, May 13th. They set a “buy” rating and a $265.00 target price on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $248.00.

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.