XTX Topco Ltd Makes New Investment in Onto Innovation Inc. (NYSE:ONTO)

XTX Topco Ltd purchased a new stake in Onto Innovation Inc. (NYSE:ONTO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,640 shares of the semiconductor company’s stock, valued at approximately $2,336,000.

Several other institutional investors have also recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. lifted its position in Onto Innovation by 24.6% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 202,425 shares of the semiconductor company’s stock valued at $44,444,000 after purchasing an additional 39,955 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Onto Innovation by 98.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company’s stock valued at $1,218,000 after purchasing an additional 2,753 shares during the last quarter. Nordea Investment Management AB grew its position in Onto Innovation by 17.8% during the first quarter. Nordea Investment Management AB now owns 102,103 shares of the semiconductor company’s stock valued at $18,586,000 after acquiring an additional 15,451 shares during the last quarter. Eagle Asset Management Inc. raised its stake in shares of Onto Innovation by 36.8% during the fourth quarter. Eagle Asset Management Inc. now owns 295,824 shares of the semiconductor company’s stock worth $45,231,000 after acquiring an additional 79,530 shares in the last quarter. Finally, Norden Group LLC bought a new stake in shares of Onto Innovation in the 1st quarter worth approximately $654,000. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Trading Down 2.3 %

Shares of NYSE ONTO opened at $187.72 on Thursday. The firm has a fifty day simple moving average of $197.56 and a two-hundred day simple moving average of $201.70. The firm has a market capitalization of $9.25 billion, a PE ratio of 66.80 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 data on Thursday, August 8th. The semiconductor company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.20 by $0.12. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The business had revenue of $242.33 million during the quarter, compared to analyst estimates of $235.43 million. During the same period last year, the business posted $0.79 earnings per share. Onto Innovation’s quarterly revenue was up 27.1% compared to the same quarter last year. On average, sell-side analysts predict that Onto Innovation Inc. will post 5.18 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Srinivas Vedula sold 1,275 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total value of $264,231.00. Following the sale, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. The transaction 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.

Analyst Ratings Changes

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

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.