Zions Bancorporation N.A. Purchases 2,361 Shares of Onto Innovation Inc. (NYSE:ONTO)

Zions Bancorporation N.A. increased its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 18.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,330 shares of the semiconductor company’s stock after acquiring an additional 2,361 shares during the period. Zions Bancorporation N.A.’s holdings in Onto Innovation were worth $3,182,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Millennium Management LLC raised its position in Onto Innovation by 304.9% in the 2nd quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company’s stock worth $98,329,000 after purchasing an additional 337,250 shares during the last quarter. Congress Asset Management Co. lifted its stake in shares of 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 during the period. Natixis Advisors LLC boosted its stake in Onto Innovation by 379.8% during the 2nd quarter. Natixis Advisors LLC now owns 245,144 shares of the semiconductor company’s stock worth $53,824,000 after acquiring an additional 194,056 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Onto Innovation by 28.5% during 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 purchasing an additional 189,769 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in Onto Innovation in the third quarter worth $30,418,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Stock Down 5.7 %

Shares of Onto Innovation stock opened at $164.81 on Thursday. Onto Innovation Inc. has a 12-month low of $131.78 and a 12-month high of $238.93. The business’s 50 day moving average is $198.07 and its 200-day moving average is $206.74. The stock has a market cap of $8.14 billion, a P/E ratio of 44.66, a P/E/G ratio of 1.12 and a beta of 1.37.

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 company had revenue of $252.20 million during the quarter, compared to the consensus estimate of $250.85 million. During the same quarter last year, the firm posted $0.96 EPS. The company’s quarterly revenue was up 21.7% on a year-over-year basis. On average, sell-side analysts expect that Onto Innovation Inc. will post 5.19 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Benchmark reaffirmed a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, November 1st. Needham & Company LLC decreased their price objective on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Oppenheimer raised 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. Finally, 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. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $254.29.

Insider Buying and Selling

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the firm’s stock in a transaction 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 sale, the senior vice president now owns 16,050 shares of the company’s stock, valued at $3,326,202. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, 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.