Vaughan Nelson Investment Management L.P. Takes $29.42 Million Position in Onto Innovation Inc. (NYSE:ONTO)

Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 162,470 shares of the semiconductor company’s stock, valued at approximately $29,420,000.

Other large investors have also made changes to their positions in the company. Fifth Third Bancorp raised its holdings in shares of Onto Innovation by 198.3% during the fourth quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 115 shares during the period. Contravisory Investment Management Inc. bought a new stake in Onto Innovation in the fourth quarter worth approximately $28,000. GAMMA Investing LLC bought a new stake in Onto Innovation in the fourth quarter worth approximately $33,000. Rise Advisors LLC bought a new stake in shares of Onto Innovation during the 1st quarter worth $38,000. Finally, Parallel Advisors LLC boosted its holdings in shares of Onto Innovation by 43.0% during the 4th quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company’s stock worth $56,000 after buying an additional 110 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. B. Riley upped their price objective on shares of Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Needham & Company LLC reiterated a “hold” rating on shares of Onto Innovation in a research note on Friday, May 10th. Jefferies Financial Group began 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 for the company. Evercore ISI upped their target price on shares of Onto Innovation from $235.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Finally, Stifel Nicolaus upped their target price on shares of Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $248.00.

Onto Innovation Stock Performance

Shares of ONTO stock opened at $223.95 on Wednesday. Onto Innovation Inc. has a 52-week low of $103.93 and a 52-week high of $238.13. The stock has a market cap of $11.04 billion, a price-to-earnings ratio of 79.70 and a beta of 1.39. The firm has a fifty day moving average of $216.17 and a 200-day moving average of $186.05.

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

Insider Activity

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

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.