OneDigital Investment Advisors LLC Grows Stake in Onto Innovation Inc. (NYSE:ONTO)

OneDigital Investment Advisors LLC grew its position in Onto Innovation Inc. (NYSE:ONTO) by 32.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,041 shares of the semiconductor company’s stock after purchasing an additional 502 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Onto Innovation were worth $424,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. ING Groep NV purchased a new stake in Onto Innovation in the third quarter worth about $11,893,000. Zions Bancorporation N.A. raised its holdings in shares of Onto Innovation by 18.2% in the 3rd quarter. Zions Bancorporation N.A. now owns 15,330 shares of the semiconductor company’s stock valued at $3,182,000 after purchasing an additional 2,361 shares in the last quarter. Huntington National Bank lifted its position in shares of Onto Innovation by 26.3% in the 3rd quarter. Huntington National Bank now owns 423 shares of the semiconductor company’s stock worth $88,000 after purchasing an additional 88 shares during the period. KBC Group NV boosted its stake in shares of Onto Innovation by 10.3% during the third quarter. KBC Group NV now owns 1,292 shares of the semiconductor company’s stock valued at $268,000 after purchasing an additional 121 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new position in Onto Innovation during the third quarter valued at approximately $315,000. Institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ONTO. Jefferies Financial Group dropped their target price on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Oppenheimer raised their price objective on Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Benchmark reiterated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. Finally, Needham & Company LLC lowered their price target on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Onto Innovation has a consensus rating of “Moderate Buy” and a consensus target price of $254.29.

Onto Innovation Trading Down 0.6 %

Shares of Onto Innovation stock opened at $161.86 on Thursday. Onto Innovation Inc. has a 12-month low of $133.67 and a 12-month high of $238.93. The firm’s 50 day simple moving average is $195.99 and its two-hundred day simple moving average is $205.72. The firm has a market capitalization of $7.99 billion, a price-to-earnings ratio of 43.86, a PEG ratio of 1.02 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. The company had revenue of $252.20 million during the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The firm’s quarterly revenue was up 21.7% on a year-over-year basis. During the same quarter last year, the business posted $0.96 EPS. On average, sell-side analysts predict that Onto Innovation Inc. will post 5.19 EPS for the current fiscal year.

Insider Buying and Selling

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total value of $264,231.00. Following the sale, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. This represents a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is owned by corporate insiders.

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.