Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Swiss National Bank

Swiss National Bank lowered its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 0.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,241 shares of the semiconductor company’s stock after selling 400 shares during the period. Swiss National Bank owned approximately 0.19% of Onto Innovation worth $19,976,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ONTO. Quarry LP boosted its stake in Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Onto Innovation by 675.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 108 shares during the period. LGT Financial Advisors LLC raised its stake in Onto Innovation by 58.1% during the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock worth $54,000 after acquiring an additional 90 shares in the last quarter. Fifth Third Bancorp raised 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 valued at $64,000 after acquiring an additional 84 shares during the last quarter. Finally, Eastern Bank acquired a new position in Onto Innovation during the 3rd quarter worth about $65,000. 98.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Onto Innovation Stock Performance

Shares of Onto Innovation stock opened at $166.50 on Friday. The stock has a market capitalization of $8.22 billion, a PE ratio of 45.12, a price-to-earnings-growth ratio of 1.05 and a beta of 1.37. The stock has a 50 day moving average price of $194.81 and a two-hundred day moving average price of $205.14. Onto Innovation Inc. has a 52 week low of $134.11 and a 52 week high of $238.93.

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

Insider Transactions at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 16,050 shares in the company, valued at $3,326,202. This represents a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is owned by 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.