Nordea Investment Management AB Grows Position in Onto Innovation Inc. (NYSE:ONTO)

Nordea Investment Management AB lifted its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,973 shares of the semiconductor company’s stock after purchasing an additional 4,389 shares during the quarter. Nordea Investment Management AB owned 0.18% of Onto Innovation worth $15,118,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Magnetar Financial LLC boosted its holdings in shares of Onto Innovation by 4.0% during the second quarter. Magnetar Financial LLC now owns 1,622 shares of the semiconductor company’s stock worth $356,000 after purchasing an additional 63 shares during the period. Northwest & Ethical Investments L.P. lifted its holdings in Onto Innovation by 7.8% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 1,050 shares of the semiconductor company’s stock worth $218,000 after buying an additional 76 shares during the period. Quarry LP grew its position in shares of Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after buying an additional 79 shares during the last quarter. Hunter Perkins Capital Management LLC grew its position in shares of Onto Innovation by 3.6% in the 3rd quarter. Hunter Perkins Capital Management LLC now owns 2,325 shares of the semiconductor company’s stock worth $483,000 after buying an additional 80 shares during the last quarter. Finally, Evergreen Capital Management LLC increased its stake in shares of Onto Innovation by 2.9% during the second quarter. Evergreen Capital Management LLC now owns 2,975 shares of the semiconductor company’s stock valued at $653,000 after buying an additional 85 shares during the period. 98.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Needham & Company LLC cut 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. Jefferies Financial Group reduced 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. Oppenheimer restated an “outperform” rating and issued a $275.00 price objective on shares of Onto Innovation in a report on Tuesday, December 17th. Finally, Benchmark reiterated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.29.

Onto Innovation Stock Down 0.9 %

ONTO stock opened at $191.88 on Thursday. The business has a 50 day moving average of $170.88 and a 200 day moving average of $192.81. The firm has a market cap of $9.48 billion, a PE ratio of 52.00, a price-to-earnings-growth ratio of 1.07 and a beta of 1.29. Onto Innovation Inc. has a twelve month low of $136.32 and a twelve month high of $238.93.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.03. The firm had revenue of $252.20 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned $0.96 earnings per share. On average, research analysts expect that Onto Innovation Inc. will post 5.22 earnings per share 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.