Acadian Asset Management LLC Invests $397,000 in Onto Innovation Inc. (NYSE:ONTO)

Acadian Asset Management LLC acquired a new stake in Onto Innovation Inc. (NYSE:ONTO) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,812 shares of the semiconductor company’s stock, valued at approximately $397,000.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Onto Innovation in the fourth quarter valued at $89,785,000. Price T Rowe Associates Inc. MD increased its position in shares of 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 valued at $144,779,000 after buying an additional 371,641 shares during the period. Natixis Advisors LLC lifted 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 worth $53,824,000 after buying an additional 194,056 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Onto Innovation by 58.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 470,059 shares of the semiconductor company’s stock valued at $85,118,000 after acquiring an additional 174,010 shares during the period. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in Onto Innovation during the first quarter valued at approximately $29,420,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Stock Down 2.3 %

Shares of ONTO stock opened at $187.72 on Thursday. The business has a 50-day moving average price of $197.56 and a two-hundred day moving average price of $201.70. Onto Innovation Inc. has a 12-month low of $108.98 and a 12-month high of $238.93. The firm has a market cap of $9.25 billion, a P/E ratio of 66.80 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.12. The company had revenue of $242.33 million during the quarter, compared to the consensus estimate of $235.43 million. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. Onto Innovation’s quarterly revenue was up 27.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS. As a group, research analysts expect that Onto Innovation Inc. will post 5.18 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Srinivas Vedula sold 1,275 shares of the firm’s 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 transaction, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at $3,326,202. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

About Onto Innovation

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.