Raymond James & Associates Grows Position in Onto Innovation Inc. (NYSE:ONTO)

Raymond James & Associates boosted its stake in Onto Innovation Inc. (NYSE:ONTO) by 106.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,324 shares of the semiconductor company’s stock after purchasing an additional 12,040 shares during the quarter. Raymond James & Associates’ holdings in Onto Innovation were worth $4,841,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ONTO. Vaughan Nelson Investment Management L.P. grew its position in Onto Innovation by 24.6% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 202,425 shares of the semiconductor company’s stock worth $44,444,000 after acquiring an additional 39,955 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Onto Innovation by 98.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company’s stock valued at $1,218,000 after acquiring an additional 2,753 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Onto Innovation by 17.8% in the 1st quarter. Nordea Investment Management AB now owns 102,103 shares of the semiconductor company’s stock worth $18,586,000 after acquiring an additional 15,451 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of Onto Innovation by 45.7% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 105,267 shares of the semiconductor company’s stock worth $23,112,000 after purchasing an additional 33,025 shares during the period. Finally, Norden Group LLC bought a new position in Onto Innovation during the 1st quarter valued at about $654,000. 98.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on ONTO. Oppenheimer boosted their target price on Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday. Needham & Company LLC cut their price objective on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday. Stifel Nicolaus boosted their target price on shares of Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Benchmark reaffirmed a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday. Finally, Jefferies Financial Group decreased their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Onto Innovation has an average rating of “Moderate Buy” and an average price target of $254.29.

Onto Innovation Trading Down 11.3 %

Shares of NYSE:ONTO opened at $175.95 on Friday. Onto Innovation Inc. has a twelve month low of $115.07 and a twelve month high of $238.93. The company has a market cap of $8.69 billion, a PE ratio of 52.52, a price-to-earnings-growth ratio of 1.33 and a beta of 1.36. The company’s 50 day moving average is $202.50 and its 200 day moving average is $206.56.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. The company had revenue of $252.20 million during the quarter, compared to the consensus estimate of $250.85 million. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The firm’s quarterly revenue was up 21.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.96 earnings per share. Equities research analysts predict that Onto Innovation Inc. will post 5.18 earnings per share for the current fiscal year.

Insider Activity at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total value of $264,231.00. Following the completion of the transaction, the senior vice president now owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.72% of the company’s stock.

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.