Onto Innovation Inc. (NYSE:ONTO) Stake Lifted by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. increased its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 675.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 124 shares of the semiconductor company’s stock after acquiring an additional 108 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Onto Innovation were worth $27,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC bought a new position in Onto Innovation during the 1st quarter worth $28,000. Rise Advisors LLC bought a new position in shares of Onto Innovation in the first quarter worth $38,000. GAMMA Investing LLC grew its stake in shares of Onto Innovation by 41.1% in the first quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 85 shares in the last quarter. LGT Financial Advisors LLC grew its stake in shares of Onto Innovation by 58.1% in the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 90 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Onto Innovation by 40.2% in the second quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock worth $64,000 after purchasing an additional 84 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ONTO has been the subject of several recent analyst reports. Needham & Company LLC raised Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. B. Riley increased their price target on Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Oppenheimer increased their price target on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Benchmark reaffirmed a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, August 9th. Finally, Stifel Nicolaus raised their target price on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 15th. One equities research 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 company currently has a consensus rating of “Moderate Buy” and an average price target of $261.67.

Onto Innovation Stock Up 4.5 %

Shares of NYSE ONTO opened at $217.79 on Monday. Onto Innovation Inc. has a 12 month low of $108.98 and a 12 month high of $238.93. The company has a market cap of $10.73 billion, a price-to-earnings ratio of 77.51, a P/E/G ratio of 1.36 and a beta of 1.36. The business has a fifty day simple moving average of $199.85 and a 200-day simple moving average of $204.83.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, August 8th. The semiconductor company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.20 by $0.12. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The business had revenue of $242.33 million during the quarter, compared to the consensus estimate of $235.43 million. During the same period in the prior year, the business posted $0.79 earnings per share. Onto Innovation’s revenue was up 27.1% compared to the same quarter last year. As a group, sell-side analysts expect that Onto Innovation Inc. will post 5.18 EPS for the current fiscal year.

Insider Activity

In other news, SVP Srinivas Vedula sold 1,275 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total transaction of $264,231.00. Following the completion of the sale, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at $3,326,202. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.72% of the stock is currently owned by company insiders.

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.