Legacy Wealth Asset Management LLC Acquires New Shares in Onto Innovation Inc. (NYSE:ONTO)

Legacy Wealth Asset Management LLC bought a new position in shares of Onto Innovation Inc. (NYSE:ONTO) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,493 shares of the semiconductor company’s stock, valued at approximately $310,000.

Several other institutional investors also recently modified their holdings of ONTO. Vaughan Nelson Investment Management L.P. acquired a new position in Onto Innovation during the first quarter valued at approximately $29,420,000. Allspring Global Investments Holdings LLC increased its position in shares of Onto Innovation by 58.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 470,059 shares of the semiconductor company’s stock valued at $85,118,000 after buying an additional 174,010 shares in the last quarter. Deepwater Asset Management LLC acquired a new stake in Onto Innovation during the 1st quarter worth $1,597,000. State of Michigan Retirement System lifted its holdings in Onto Innovation by 2.5% during the first quarter. State of Michigan Retirement System now owns 12,100 shares of the semiconductor company’s stock worth $2,191,000 after acquiring an additional 300 shares in the last quarter. Finally, Norden Group LLC acquired a new position in Onto Innovation in the first quarter valued at about $654,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the company’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 directly owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ONTO. 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, October 1st. Stifel Nicolaus lifted their price target 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. Needham & Company LLC raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a research report on Monday, August 19th. Finally, Benchmark reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Onto Innovation currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.67.

Onto Innovation Trading Up 0.7 %

Onto Innovation stock opened at $204.39 on Friday. Onto Innovation Inc. has a 1-year low of $108.98 and a 1-year high of $238.93. The company has a fifty day simple moving average of $203.78 and a 200 day simple moving average of $206.10. The company has a market cap of $10.09 billion, a P/E ratio of 61.01, a price-to-earnings-growth ratio of 1.32 and a beta of 1.36.

Onto Innovation (NYSE:ONTO) last announced 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 company had revenue of $242.33 million during the quarter, compared to analysts’ expectations of $235.43 million. During the same quarter last year, the company earned $0.79 EPS. Onto Innovation’s revenue for the quarter was up 27.1% compared to the same quarter last year. On average, equities research analysts forecast that Onto Innovation Inc. will post 5.18 EPS for the current 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.