Creative Planning Purchases 6,779 Shares of Onto Innovation Inc. (NYSE:ONTO)

Creative Planning grew its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 32.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,726 shares of the semiconductor company’s stock after buying an additional 6,779 shares during the period. Creative Planning owned approximately 0.06% of Onto Innovation worth $6,088,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ONTO. Price T Rowe Associates Inc. MD increased its position in Onto Innovation by 64.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 946,879 shares of the semiconductor company’s stock worth $144,779,000 after buying an additional 371,641 shares during the period. Millennium Management LLC increased its position in Onto Innovation by 304.9% during the 2nd quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company’s stock worth $98,329,000 after buying an additional 337,250 shares during the period. Natixis Advisors LLC increased its position in Onto Innovation by 379.8% during the 2nd quarter. Natixis Advisors LLC now owns 245,144 shares of the semiconductor company’s stock worth $53,824,000 after buying an additional 194,056 shares during the period. Massachusetts Financial Services Co. MA increased its position 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 buying an additional 189,769 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Onto Innovation by 58.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 470,059 shares of the semiconductor company’s stock worth $85,118,000 after buying an additional 174,010 shares during the period. Institutional investors own 98.35% of the company’s stock.

Insider Activity

In other news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total transaction of $264,231.00. Following the sale, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at $3,326,202. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Needham & Company LLC upgraded Onto Innovation from a “hold” rating to a “buy” rating in a research report on Monday, August 19th. Stifel Nicolaus raised their price target on Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Oppenheimer raised their price target on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Tuesday. Benchmark restated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research report on Friday, August 9th. Finally, B. Riley raised their price target on Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Onto Innovation currently has an average rating of “Moderate Buy” and a consensus price target of $261.67.

Onto Innovation Stock Up 4.5 %

NYSE:ONTO opened at $209.59 on Thursday. The stock’s 50-day simple moving average is $195.83 and its 200 day simple moving average is $203.21. The firm has a market capitalization of $10.33 billion, a PE ratio of 74.59 and a beta of 1.37. Onto Innovation Inc. has a twelve month low of $108.98 and a twelve month high of $238.93.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.12. The business had revenue of $242.33 million for the quarter, compared to analyst estimates of $235.43 million. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. Onto Innovation’s revenue was up 27.1% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share. On average, analysts anticipate that Onto Innovation Inc. will post 5.18 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.