Bank of New York Mellon Corp Boosts Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Bank of New York Mellon Corp increased its stake in Onto Innovation Inc. (NYSE:ONTO) by 5.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 522,629 shares of the semiconductor company’s stock after acquiring an additional 26,563 shares during the period. Bank of New York Mellon Corp owned about 1.06% of Onto Innovation worth $114,748,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ONTO. Fidelis Capital Partners LLC bought a new stake in Onto Innovation in the first quarter valued at approximately $28,000. GAMMA Investing LLC bought a new stake in Onto Innovation during the 4th quarter valued at $33,000. Rise Advisors LLC purchased a new stake in Onto Innovation during the 1st quarter valued at $38,000. Parallel Advisors LLC grew its holdings in Onto Innovation by 43.0% in the 4th quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company’s stock worth $56,000 after acquiring an additional 110 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Onto Innovation by 40.2% in the second quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock valued at $64,000 after acquiring an additional 84 shares during the period. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ONTO. Needham & Company LLC upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a report on Monday, August 19th. Evercore ISI lifted their price objective on Onto Innovation from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Jefferies Financial Group started coverage on Onto Innovation in a report on Monday, May 13th. They set a “buy” rating and a $265.00 target price for the company. Stifel Nicolaus lifted their price target on shares of Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Benchmark restated a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $259.00.

Insider Activity at Onto Innovation

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

Onto Innovation Stock Up 0.9 %

Shares of ONTO stock opened at $210.33 on Wednesday. The business’s fifty day moving average is $207.24 and its 200 day moving average is $200.07. The stock has a market cap of $10.36 billion, a price-to-earnings ratio of 74.85 and a beta of 1.39. Onto Innovation Inc. has a twelve month low of $108.98 and a twelve month high of $238.93.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.12. Onto Innovation had a net margin of 16.43% and a return on equity of 11.48%. The company had revenue of $242.33 million during the quarter, compared to analyst estimates of $235.43 million. During the same period last year, the business earned $0.79 EPS. Onto Innovation’s quarterly revenue was up 27.1% compared to the same quarter last year. Equities research analysts expect that Onto Innovation Inc. will post 5.05 earnings per share for the current fiscal year.

Onto Innovation 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.