Onto Innovation Inc. (NYSE:ONTO) Stock Holdings Increased by Franklin Resources Inc.

Franklin Resources Inc. boosted its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 4.5% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,281,801 shares of the semiconductor company’s stock after purchasing an additional 54,868 shares during the period. Franklin Resources Inc. owned about 2.60% of Onto Innovation worth $288,320,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Onto Innovation by 2.8% during the 3rd quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company’s stock worth $305,107,000 after purchasing an additional 39,367 shares in the last quarter. Congress Asset Management Co. raised its position in Onto Innovation by 38.1% during the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock valued at $222,670,000 after acquiring an additional 295,869 shares in the last quarter. Geneva Capital Management LLC lifted its stake in Onto Innovation by 2.6% in the third quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company’s stock valued at $195,032,000 after acquiring an additional 23,628 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Onto Innovation by 28.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock valued at $188,115,000 after acquiring an additional 189,769 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Onto Innovation by 1.6% in the third quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company’s stock worth $173,401,000 after acquiring an additional 13,405 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Onto Innovation Stock Up 0.4 %

Onto Innovation stock opened at $167.09 on Friday. The business has a 50 day moving average price of $183.14 and a two-hundred day moving average price of $198.60. Onto Innovation Inc. has a 12 month low of $134.11 and a 12 month high of $238.93. The stock has a market cap of $8.25 billion, a price-to-earnings ratio of 45.28, a price-to-earnings-growth ratio of 1.07 and a beta of 1.30.

Onto Innovation (NYSE:ONTO) last issued its earnings results 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 return on equity of 13.38% and a net margin of 19.44%. The business had revenue of $252.20 million during the quarter, compared to analyst estimates of $250.85 million. During the same period in the prior year, the company posted $0.96 earnings per share. Onto Innovation’s revenue was up 21.7% on a year-over-year basis. On average, analysts expect that Onto Innovation Inc. will post 5.22 earnings per share for the current fiscal 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.