Zurcher Kantonalbank Zurich Cantonalbank Increases Stake in Onto Innovation Inc. (NYSE:ONTO)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Onto Innovation Inc. (NYSE:ONTO) by 4.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,005 shares of the semiconductor company’s stock after acquiring an additional 519 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Onto Innovation were worth $2,416,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vaughan Nelson Investment Management L.P. boosted its holdings 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 worth $44,444,000 after buying an additional 39,955 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake 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 worth $1,218,000 after acquiring an additional 2,753 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Onto Innovation by 17.8% during the 1st 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 period. Eagle Asset Management Inc. grew its position in shares of Onto Innovation by 36.8% during the 4th quarter. Eagle Asset Management Inc. now owns 295,824 shares of the semiconductor company’s stock valued at $45,231,000 after acquiring an additional 79,530 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of Onto Innovation by 106.5% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Stock Performance

NYSE ONTO opened at $213.22 on Friday. The business has a fifty day moving average price of $206.50 and a 200 day moving average price of $200.46. The company has a market cap of $10.51 billion, a P/E ratio of 75.88 and a beta of 1.39. 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 16.43% and a return on equity of 11.48%. 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. As a group, sell-side analysts predict that Onto Innovation Inc. will post 5.05 EPS for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,486 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $213.40, for a total transaction of $317,112.40. Following the transaction, the senior vice president now directly owns 17,433 shares in the company, valued at approximately $3,720,202.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Onto Innovation news, CFO Mark Slicer sold 519 shares of the firm’s 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 sale, the chief financial officer now directly owns 12,552 shares of the company’s stock, 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. Also, SVP Srinivas Vedula sold 1,486 shares of Onto Innovation stock in a transaction on Monday, June 10th. The stock was sold at an average price of $213.40, for a total value of $317,112.40. Following the transaction, the senior vice president now owns 17,433 shares in the company, valued at approximately $3,720,202.20. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ONTO shares. Needham & Company LLC upgraded Onto Innovation from a “hold” rating to a “buy” rating in a research report on Monday, August 19th. 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 target price on the stock. Benchmark reissued a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, August 9th. Evercore ISI increased their price objective on shares of Onto Innovation from $235.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, May 10th. Finally, Stifel Nicolaus boosted their target price on shares of Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $259.00.

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.