Onto Innovation Inc. (NYSE:ONTO) Shares Purchased by Huntington National Bank

Huntington National Bank boosted its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 26.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 423 shares of the semiconductor company’s stock after buying an additional 88 shares during the period. Huntington National Bank’s holdings in Onto Innovation were worth $88,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ONTO. Quarry LP increased its holdings in shares of Onto Innovation by 232.4% during the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Onto Innovation by 675.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after buying an additional 108 shares during the last quarter. LGT Financial Advisors LLC lifted its stake in shares of 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 buying an additional 90 shares during the period. Fifth Third Bancorp grew its holdings in shares of Onto Innovation by 40.2% during the second quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock valued at $64,000 after buying an additional 84 shares during the last quarter. Finally, Eastern Bank acquired a new position in shares of Onto Innovation in the 3rd quarter valued at $65,000. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Onto Innovation Price Performance

ONTO opened at $161.66 on Tuesday. The firm has a fifty day moving average price of $196.76 and a 200 day moving average price of $206.23. Onto Innovation Inc. has a 1 year low of $133.67 and a 1 year high of $238.93. The stock has a market cap of $7.98 billion, a P/E ratio of 42.96, a P/E/G ratio of 1.02 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The business had revenue of $252.20 million during the quarter, compared to the consensus estimate of $250.85 million. During the same quarter in the prior year, the firm posted $0.96 earnings per share. The company’s revenue was up 21.7% compared to the same quarter last year. Equities analysts expect that Onto Innovation Inc. will post 5.19 EPS for the current year.

Insiders Place Their Bets

In related 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 value of $264,231.00. Following the completion of the sale, the senior vice president now owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. The trade was a 7.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by company insiders.

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.