HighTower Advisors LLC Increases Position in Onto Innovation Inc. (NYSE:ONTO)

HighTower Advisors LLC boosted its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 72.0% during the third quarter, HoldingsChannel.com reports. The firm owned 10,184 shares of the semiconductor company’s stock after purchasing an additional 4,263 shares during the period. HighTower Advisors LLC’s holdings in Onto Innovation were worth $2,095,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ONTO. Millennium Management LLC grew its position in shares of Onto Innovation by 304.9% in the second quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company’s stock valued at $98,329,000 after purchasing an additional 337,250 shares during the period. Congress Asset Management Co. boosted its holdings in Onto Innovation by 38.1% in the 3rd 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 during the last quarter. Citigroup Inc. increased its stake in Onto Innovation by 811.7% during the 3rd quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company’s stock worth $66,236,000 after buying an additional 284,115 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of Onto Innovation by 379.8% during the second quarter. Natixis Advisors LLC now owns 245,144 shares of the semiconductor company’s stock valued at $53,824,000 after acquiring an additional 194,056 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Onto Innovation by 28.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock valued at $188,115,000 after acquiring an additional 189,769 shares in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Trading Up 0.4 %

Onto Innovation stock opened at $167.09 on Friday. The stock has a market cap of $8.25 billion, a P/E ratio of 45.28, a PEG ratio of 1.07 and a beta of 1.30. The company has a 50-day moving average price of $183.14 and a 200 day moving average price of $198.60. Onto Innovation Inc. has a 12-month low of $134.11 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 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 net margin of 19.44% and a return on equity of 13.38%. The business’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.96 EPS. As a group, analysts forecast that Onto Innovation Inc. will post 5.22 EPS for the current year.

Analysts Set New Price Targets

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

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.