Onto Innovation Inc. (NYSE:ONTO) Shares Purchased by Vontobel Holding Ltd.

Vontobel Holding Ltd. boosted its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 157.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,995 shares of the semiconductor company’s stock after purchasing an additional 6,111 shares during the period. Vontobel Holding Ltd.’s holdings in Onto Innovation were worth $2,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Onto Innovation by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 5,254,287 shares of the semiconductor company’s stock valued at $951,446,000 after buying an additional 65,472 shares during the period. Massachusetts Financial Services Co. MA boosted its position in 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 purchasing an additional 189,769 shares in the last quarter. Hood River Capital Management LLC boosted its position in Onto Innovation by 6.9% in the 1st quarter. Hood River Capital Management LLC now owns 672,230 shares of the semiconductor company’s stock worth $121,727,000 after purchasing an additional 43,132 shares in the last quarter. Driehaus Capital Management LLC grew its stake in shares of Onto Innovation by 2.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 535,769 shares of the semiconductor company’s stock worth $117,633,000 after purchasing an additional 10,328 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Onto Innovation by 5.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 522,629 shares of the semiconductor company’s stock valued at $114,748,000 after purchasing an additional 26,563 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation stock in a transaction that occurred on 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 owns 16,050 shares in the company, valued at approximately $3,326,202. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.72% of the company’s stock.

Onto Innovation Stock Performance

Shares of ONTO opened at $209.59 on Friday. The stock has a 50 day moving average price of $203.53 and a 200 day moving average price of $205.65. The stock has a market capitalization of $10.33 billion, a price-to-earnings ratio of 74.59, a PEG ratio of 1.36 and a beta of 1.36. Onto Innovation Inc. has a one year low of $108.98 and a one year high of $238.93.

Onto Innovation (NYSE:ONTO) last issued its 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 business had revenue of $242.33 million during the quarter, compared to analysts’ expectations of $235.43 million. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The company’s quarterly revenue was up 27.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.79 earnings per share. On average, analysts predict that Onto Innovation Inc. will post 5.18 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ONTO shares. Benchmark reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, August 9th. Oppenheimer lifted their price target on Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Stifel Nicolaus increased 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, Needham & Company LLC raised Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $261.67.

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.