State Street Corp Has $305.11 Million Stock Position in Onto Innovation Inc. (NYSE:ONTO)

State Street Corp grew its position in Onto Innovation Inc. (NYSE:ONTO) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,469,969 shares of the semiconductor company’s stock after purchasing an additional 39,367 shares during the period. State Street Corp owned about 2.98% of Onto Innovation worth $305,107,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. increased 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 buying an additional 39,955 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings 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 valued at $1,218,000 after purchasing an additional 2,753 shares in the last quarter. Public Employees Retirement Association of Colorado lifted 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 purchasing an additional 33,025 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Onto Innovation by 287.0% in the 3rd quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock valued at $968,000 after purchasing an additional 3,458 shares during the last quarter. Finally, Swedbank AB increased its position in Onto Innovation by 372.7% during the second quarter. Swedbank AB now owns 62,400 shares of the semiconductor company’s stock worth $13,701,000 after buying an additional 49,200 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Needham & Company LLC decreased their price target on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Jefferies Financial Group dropped their price target on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Benchmark reaffirmed a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, November 1st. Finally, Oppenheimer lifted their target price on shares of Onto Innovation from $260.00 to $275.00 and gave the stock 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 issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $254.29.

Onto Innovation Price Performance

NYSE:ONTO opened at $163.25 on Wednesday. Onto Innovation Inc. has a one year low of $134.11 and a one year high of $238.93. The company has a fifty day moving average price of $186.36 and a 200 day moving average price of $200.23. The stock has a market cap of $8.06 billion, a P/E ratio of 44.24, a PEG ratio of 1.08 and a beta of 1.30.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating 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 analyst estimates of $250.85 million. During the same quarter in the prior year, the business earned $0.96 earnings per share. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis. As a group, equities research analysts anticipate that Onto Innovation Inc. will post 5.22 EPS for the current year.

Onto Innovation Company 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.