Assenagon Asset Management S.A. Acquires New Shares in Onto Innovation Inc. (NYSE:ONTO)

Assenagon Asset Management S.A. bought a new position in Onto Innovation Inc. (NYSE:ONTO) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 146,548 shares of the semiconductor company’s stock, valued at approximately $30,418,000. Assenagon Asset Management S.A. owned 0.30% of Onto Innovation as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Onto Innovation by 1.3% in the first quarter. Vanguard Group Inc. now owns 5,254,287 shares of the semiconductor company’s stock worth $951,446,000 after acquiring an additional 65,472 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of 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 valued at $188,115,000 after purchasing an additional 189,769 shares during the last quarter. Hood River Capital Management LLC raised its holdings in shares of Onto Innovation by 6.9% during the 1st quarter. Hood River Capital Management LLC now owns 672,230 shares of the semiconductor company’s stock valued at $121,727,000 after buying an additional 43,132 shares in the last quarter. Driehaus Capital Management LLC lifted its position in Onto Innovation by 2.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 535,769 shares of the semiconductor company’s stock worth $117,633,000 after buying an additional 10,328 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Onto Innovation by 5.4% in the second quarter. Bank of New York Mellon Corp now owns 522,629 shares of the semiconductor company’s stock worth $114,748,000 after buying an additional 26,563 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Trading Up 0.7 %

NYSE:ONTO opened at $204.36 on Friday. The company has a 50-day moving average price of $203.78 and a 200-day moving average price of $206.10. The stock has a market cap of $10.09 billion, a price-to-earnings ratio of 61.00, a P/E/G ratio of 1.32 and a beta of 1.36. Onto Innovation Inc. has a 12 month low of $108.98 and a 12 month high of $238.93.

Onto Innovation (NYSE:ONTO) last posted 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. 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 for the quarter, compared to analysts’ expectations of $235.43 million. During the same period in the previous year, the firm posted $0.79 EPS. The business’s revenue was up 27.1% on a year-over-year basis. Equities analysts forecast that Onto Innovation Inc. will post 5.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Oppenheimer boosted their price target on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Stifel Nicolaus lifted their price target on Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Benchmark reissued a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, August 9th. Finally, Needham & Company LLC raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Onto Innovation has a consensus rating of “Moderate Buy” and an average price target of $261.67.

Insiders Place Their Bets

In other news, SVP Srinivas Vedula sold 1,275 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total transaction of $264,231.00. Following the sale, the senior vice president now owns 16,050 shares in the company, valued at approximately $3,326,202. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.72% of the stock is owned by corporate insiders.

About Onto Innovation

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.