Onto Innovation Inc. (NYSE:ONTO) Stock Position Lifted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its position in Onto Innovation Inc. (NYSE:ONTO) by 58.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 470,059 shares of the semiconductor company’s stock after acquiring an additional 174,010 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Onto Innovation were worth $85,118,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in ONTO. Hsbc Holdings PLC acquired a new stake in Onto Innovation during the third quarter worth about $246,000. Stifel Financial Corp raised its position in shares of Onto Innovation by 18.8% during the 3rd quarter. Stifel Financial Corp now owns 19,985 shares of the semiconductor company’s stock worth $2,548,000 after purchasing an additional 3,163 shares during the period. Natixis Advisors L.P. lifted its holdings in shares of Onto Innovation by 23.4% in the 3rd quarter. Natixis Advisors L.P. now owns 17,383 shares of the semiconductor company’s stock worth $2,217,000 after purchasing an additional 3,292 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in Onto Innovation by 28.5% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 3,217 shares of the semiconductor company’s stock valued at $410,000 after purchasing an additional 714 shares during the period. Finally, Glenmede Trust Co. NA acquired a new position in Onto Innovation during the 3rd quarter valued at approximately $607,000. 98.35% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Onto Innovation news, CFO Mark Slicer sold 519 shares of Onto Innovation stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $221.21, for a total value of $114,807.99. Following the completion of the sale, the chief financial officer now directly owns 12,552 shares in the company, valued at $2,776,627.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Onto Innovation news, SVP Srinivas Vedula sold 1,486 shares of Onto Innovation stock in a transaction on Monday, June 10th. The shares were sold at an average price of $213.40, for a total transaction of $317,112.40. Following the sale, the senior vice president now owns 17,433 shares in the company, valued at $3,720,202.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Slicer sold 519 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $221.21, for a total transaction of $114,807.99. Following the completion of the transaction, the chief financial officer now owns 12,552 shares of the company’s stock, valued at approximately $2,776,627.92. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

ONTO has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Onto Innovation in a research note on Friday, May 10th. B. Riley lifted their price objective on shares of Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Stifel Nicolaus boosted their target price on shares of Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Evercore ISI raised their price target on shares of Onto Innovation from $235.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Finally, Jefferies Financial Group began coverage on Onto Innovation in a research report on Monday, May 13th. They set a “buy” rating and a $265.00 price objective for the company. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $248.00.

Onto Innovation Stock Up 0.6 %

Onto Innovation stock traded up $1.39 during trading hours on Tuesday, hitting $220.38. 84,961 shares of the company traded hands, compared to its average volume of 497,122. The firm’s 50-day simple moving average is $214.25 and its two-hundred day simple moving average is $185.10. The firm has a market cap of $10.86 billion, a P/E ratio of 77.86 and a beta of 1.39. Onto Innovation Inc. has a 1-year low of $103.93 and a 1-year high of $238.13.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.08. Onto Innovation had a return on equity of 11.48% and a net margin of 16.43%. The business had revenue of $228.80 million during the quarter, compared to analyst estimates of $222.60 million. During the same quarter in the prior year, the firm posted $0.92 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. On average, equities research analysts predict that Onto Innovation Inc. will post 5.05 earnings per share 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.