Legacy Wealth Asset Management LLC Purchases Shares of 1,493 Onto Innovation Inc. (NYSE:ONTO)

Legacy Wealth Asset Management LLC acquired a new position in shares of Onto Innovation Inc. (NYSE:ONTO) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,493 shares of the semiconductor company’s stock, valued at approximately $310,000.

A number of other large investors have also made changes to their positions in ONTO. Vaughan Nelson Investment Management L.P. lifted its position in 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 worth $44,444,000 after purchasing an additional 39,955 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position 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 valued at $1,218,000 after acquiring an additional 2,753 shares in the last quarter. Nordea Investment Management AB increased its stake in 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 acquiring an additional 15,451 shares during the period. Public Employees Retirement Association of Colorado raised 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 in the last quarter. Finally, Norden Group LLC bought a new position in Onto Innovation during the first quarter worth about $654,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Insider Activity

In related news, SVP Srinivas Vedula sold 1,275 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total value of $264,231.00. Following the transaction, the senior vice president now owns 16,050 shares in the company, valued at $3,326,202. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

ONTO has been the topic of several analyst reports. Stifel Nicolaus upped their price objective on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Oppenheimer upped their price target on Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Benchmark reissued a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, August 9th. Finally, Needham & Company LLC raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a report on Monday, August 19th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $261.67.

Onto Innovation Stock Up 0.7 %

Onto Innovation stock opened at $204.39 on Friday. The stock has a 50-day simple moving average of $203.78 and a 200 day simple moving average of $206.10. The stock has a market capitalization of $10.09 billion, a price-to-earnings ratio of 61.01, a P/E/G ratio of 1.32 and a beta of 1.36. Onto Innovation Inc. has a 12-month low of $108.98 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.12. The company had revenue of $242.33 million for the quarter, compared to analyst estimates of $235.43 million. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. Onto Innovation’s quarterly revenue was up 27.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.79 earnings per share. As a group, sell-side analysts anticipate that Onto Innovation Inc. will post 5.18 EPS for the current year.

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.