Victory Capital Management Inc. Has $24.73 Million Holdings in Onto Innovation Inc. (NYSE:ONTO)

Victory Capital Management Inc. lifted its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 10.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 119,134 shares of the semiconductor company’s stock after buying an additional 11,228 shares during the quarter. Victory Capital Management Inc. owned about 0.24% of Onto Innovation worth $24,727,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Vaughan Nelson Investment Management L.P. grew its holdings 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 purchasing an additional 39,955 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in shares of Onto Innovation by 98.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company’s stock worth $1,218,000 after purchasing an additional 2,753 shares in the last quarter. Public Employees Retirement Association of Colorado grew its stake in shares of Onto Innovation by 45.7% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 105,267 shares of the semiconductor company’s stock valued at $23,112,000 after buying an additional 33,025 shares during the period. Bessemer Group Inc. increased its position in Onto Innovation by 7.0% in the 1st quarter. Bessemer Group Inc. now owns 119,890 shares of the semiconductor company’s stock valued at $21,709,000 after buying an additional 7,815 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in Onto Innovation by 27.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,789 shares of the semiconductor company’s stock worth $3,221,000 after buying an additional 3,800 shares during the period. Institutional investors own 98.35% of the company’s stock.

Insider Activity

In related news, SVP Srinivas Vedula sold 1,275 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 owns 16,050 shares in the company, valued at approximately $3,326,202. This trade represents a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ONTO shares. Needham & Company LLC decreased their price objective on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a report on Friday, November 1st. Jefferies Financial Group decreased their price target on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Benchmark reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, November 1st. Finally, Oppenheimer boosted their target price on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $254.29.

Onto Innovation Stock Performance

Onto Innovation stock opened at $158.54 on Monday. Onto Innovation Inc. has a fifty-two week low of $131.78 and a fifty-two week high of $238.93. The firm’s 50-day simple moving average is $196.76 and its 200 day simple moving average is $206.08. The stock has a market cap of $7.83 billion, a PE ratio of 42.96, a price-to-earnings-growth ratio of 1.02 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.03. The company had revenue of $252.20 million during the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. Onto Innovation’s quarterly revenue was up 21.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.96 earnings per share. As a group, analysts predict that Onto Innovation Inc. will post 5.19 EPS for the current fiscal year.

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.