UMB Bank n.a. Has $44,000 Stake in Onto Innovation Inc. (NYSE:ONTO)

UMB Bank n.a. decreased its position in Onto Innovation Inc. (NYSE:ONTO) by 46.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 200 shares of the semiconductor company’s stock after selling 173 shares during the quarter. UMB Bank n.a.’s holdings in Onto Innovation were worth $44,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. grew its position in shares of Onto Innovation by 24.6% in 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. grew its position in shares of Onto Innovation by 98.5% in the second 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 shares of Onto Innovation by 17.8% in the first quarter. Nordea Investment Management AB now owns 102,103 shares of the semiconductor company’s stock valued at $18,586,000 after purchasing an additional 15,451 shares during the last quarter. Eagle Asset Management Inc. grew its position in shares of Onto Innovation by 36.8% in the fourth quarter. Eagle Asset Management Inc. now owns 295,824 shares of the semiconductor company’s stock valued at $45,231,000 after purchasing an additional 79,530 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of Onto Innovation by 106.5% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 7,263 shares of the semiconductor company’s stock valued at $1,111,000 after purchasing an additional 3,746 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Insider Activity

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

Onto Innovation Price Performance

NYSE ONTO opened at $213.22 on Friday. The business has a fifty day moving average price of $206.50 and a two-hundred day moving average price of $200.46. Onto Innovation Inc. has a fifty-two week low of $108.98 and a fifty-two week high of $238.93. The stock has a market capitalization of $10.51 billion, a PE ratio of 75.88 and a beta of 1.39.

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 the consensus estimate of $1.20 by $0.12. Onto Innovation had a return on equity of 11.48% and a net margin of 16.43%. The firm had revenue of $242.33 million during the quarter, compared to analysts’ expectations of $235.43 million. During the same period in the prior year, the company earned $0.79 earnings per share. The company’s quarterly revenue was up 27.1% on a year-over-year basis. As a group, sell-side analysts expect that Onto Innovation Inc. will post 5.05 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ONTO. Jefferies Financial Group began coverage on Onto Innovation in a research report on Monday, May 13th. They set a “buy” rating and a $265.00 price target on the stock. Evercore ISI increased their price target on Onto Innovation from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Benchmark reissued a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, August 9th. 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 report on Monday, August 19th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Onto Innovation presently has a consensus 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.