Jennison Associates LLC Has $479,000 Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Jennison Associates LLC decreased its stake in Onto Innovation Inc. (NYSE:ONTO) by 71.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,307 shares of the semiconductor company’s stock after selling 5,651 shares during the quarter. Jennison Associates LLC’s holdings in Onto Innovation were worth $479,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Congress Asset Management Co. grew its holdings in shares of Onto Innovation by 38.1% during the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after buying an additional 295,869 shares in the last quarter. Geneva Capital Management LLC lifted its holdings in Onto Innovation by 2.6% during the 3rd quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company’s stock worth $195,032,000 after purchasing an additional 23,628 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Onto Innovation by 28.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock worth $188,115,000 after purchasing an additional 189,769 shares during the last quarter. Driehaus Capital Management LLC increased its stake in shares of Onto Innovation by 2.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 535,769 shares of the semiconductor company’s stock valued at $117,633,000 after purchasing an additional 10,328 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Onto Innovation by 5.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 522,629 shares of the semiconductor company’s stock valued at $114,748,000 after purchasing an additional 26,563 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ONTO has been the topic of several recent analyst reports. Oppenheimer lifted their price target on Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Benchmark restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, November 1st. Jefferies Financial Group reduced their price objective 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. Finally, Needham & Company LLC cut their target price on 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 given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.29.

Insider Buying and Selling

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the stock in a transaction that occurred on 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 approximately $3,326,202. This represents a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.72% of the stock is owned by insiders.

Onto Innovation Trading Down 0.1 %

Shares of Onto Innovation stock opened at $166.29 on Monday. The business has a 50-day moving average price of $194.17 and a two-hundred day moving average price of $204.79. Onto Innovation Inc. has a 1-year low of $134.11 and a 1-year high of $238.93. The company has a market cap of $8.21 billion, a P/E ratio of 45.07, a PEG ratio of 1.07 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.03. The firm had revenue of $252.20 million for 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 company’s revenue was up 21.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.96 earnings per share. Equities research analysts forecast that Onto Innovation Inc. will post 5.19 EPS for the current fiscal year.

Onto Innovation 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.