Bank of Montreal Can Purchases 640 Shares of Onto Innovation Inc. (NYSE:ONTO)

Bank of Montreal Can grew its position in Onto Innovation Inc. (NYSE:ONTO) by 10.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,823 shares of the semiconductor company’s stock after purchasing an additional 640 shares during the period. Bank of Montreal Can’s holdings in Onto Innovation were worth $1,507,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. increased its stake in Onto Innovation by 24.6% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 202,425 shares of the semiconductor company’s stock valued at $44,444,000 after buying 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 second quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company’s stock valued at $1,218,000 after acquiring an additional 2,753 shares during the last quarter. Nordea Investment Management AB lifted its holdings 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 worth $18,586,000 after acquiring an additional 15,451 shares during the period. Public Employees Retirement Association of Colorado boosted its position in Onto Innovation by 45.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 105,267 shares of the semiconductor company’s stock worth $23,112,000 after purchasing an additional 33,025 shares during the last quarter. Finally, Norden Group LLC bought a new position in Onto Innovation in the 1st quarter valued at $654,000. 98.35% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Srinivas Vedula sold 1,275 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total transaction of $264,231.00. Following the sale, the senior vice president now owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.72% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ONTO. Oppenheimer lifted their target price on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday. Benchmark reiterated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, August 9th. Stifel Nicolaus raised their price target 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. Needham & Company LLC upgraded Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. Finally, B. Riley raised their target price on Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.67.

Onto Innovation Price Performance

Shares of ONTO stock opened at $209.05 on Friday. The stock has a market capitalization of $10.30 billion, a price-to-earnings ratio of 74.40 and a beta of 1.36. The company’s fifty day simple moving average is $196.59 and its two-hundred day simple moving average is $203.47. Onto Innovation Inc. has a 1 year low of $108.98 and a 1 year high of $238.93.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.12. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The company had revenue of $242.33 million for the quarter, compared to analyst estimates of $235.43 million. During the same period in the previous year, the company posted $0.79 EPS. The firm’s revenue for the quarter was up 27.1% compared to the same quarter last year. Equities research analysts anticipate that Onto Innovation Inc. will post 5.18 EPS for the current year.

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.