Onto Innovation Inc. (NYSE:ONTO) Shares Bought by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. grew its position in Onto Innovation Inc. (NYSE:ONTO) by 42.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 288,215 shares of the semiconductor company’s stock after purchasing an additional 85,790 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Onto Innovation were worth $59,821,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ONTO. QRG Capital Management Inc. increased its holdings in Onto Innovation by 2.7% in the second quarter. QRG Capital Management Inc. now owns 1,935 shares of the semiconductor company’s stock valued at $425,000 after buying an additional 50 shares during the last quarter. Magnetar Financial LLC boosted its position in shares of Onto Innovation by 4.0% during the 2nd quarter. Magnetar Financial LLC now owns 1,622 shares of the semiconductor company’s stock worth $356,000 after acquiring an additional 63 shares in the last quarter. Shaker Investments LLC OH increased its holdings in shares of Onto Innovation by 1.7% in the 2nd quarter. Shaker Investments LLC OH now owns 3,928 shares of the semiconductor company’s stock valued at $862,000 after acquiring an additional 64 shares during the last quarter. Quarry LP grew its position in shares of Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 79 shares during the last quarter. Finally, Hunter Perkins Capital Management LLC increased its position in shares of Onto Innovation by 3.6% during the third quarter. Hunter Perkins Capital Management LLC now owns 2,325 shares of the semiconductor company’s stock worth $483,000 after purchasing an additional 80 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 value of $264,231.00. Following the sale, the senior vice president now owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. This represents a 7.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

ONTO has been the subject of a number of research reports. Benchmark reaffirmed a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. Jefferies Financial Group decreased their price objective on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Oppenheimer lifted their target price on Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Needham & Company LLC cut 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. 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 company has an average rating of “Moderate Buy” and a consensus target price of $254.29.

Onto Innovation Trading Down 3.8 %

ONTO stock opened at $158.54 on Friday. The firm has a 50 day moving average of $196.76 and a 200-day moving average of $205.94. The company has a market cap of $7.83 billion, a price-to-earnings ratio of 42.96, a PEG ratio of 1.02 and a beta of 1.37. Onto Innovation Inc. has a 12-month low of $131.78 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $250.85 million. During the same period in the previous year, the firm earned $0.96 EPS. The business’s revenue for the quarter was up 21.7% compared to the same quarter last year. Sell-side analysts forecast that Onto Innovation Inc. will post 5.19 earnings per share for the current fiscal year.

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.