24,739 Shares in Onto Innovation Inc. (NYSE:ONTO) Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. purchased a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 24,739 shares of the semiconductor company’s stock, valued at approximately $5,432,000. Oppenheimer Asset Management Inc. owned 0.05% of Onto Innovation as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ONTO. Norges Bank bought a new stake in Onto Innovation during the fourth quarter valued at about $89,785,000. Price T Rowe Associates Inc. MD raised its holdings in Onto Innovation by 64.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 946,879 shares of the semiconductor company’s stock valued at $144,779,000 after acquiring an additional 371,641 shares during the period. Natixis Advisors LLC raised its holdings in Onto Innovation by 379.8% during the second quarter. Natixis Advisors LLC now owns 245,144 shares of the semiconductor company’s stock valued at $53,824,000 after acquiring an additional 194,056 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Onto Innovation by 58.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 470,059 shares of the semiconductor company’s stock valued at $85,118,000 after acquiring an additional 174,010 shares during the period. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in Onto Innovation during the first quarter valued at about $29,420,000. 98.35% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total value of $264,231.00. Following the completion of the transaction, the senior vice president now owns 16,050 shares in the company, valued at $3,326,202. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on ONTO. B. Riley raised their price target on Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Benchmark restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, August 9th. Needham & Company LLC upgraded Onto Innovation from a “hold” rating to a “buy” rating in a research report on Monday, August 19th. Finally, Stifel Nicolaus raised their price objective on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $259.00.

Onto Innovation Stock Up 2.5 %

Shares of Onto Innovation stock opened at $197.82 on Monday. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of 70.40 and a beta of 1.37. Onto Innovation Inc. has a twelve month low of $108.98 and a twelve month high of $238.93. The business has a 50-day moving average price of $200.25 and a 200-day moving average price of $201.76.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.20 by $0.12. The company had revenue of $242.33 million during the quarter, compared to analyst estimates of $235.43 million. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The firm’s revenue was up 27.1% on a year-over-year basis. During the same quarter last year, the business posted $0.79 earnings per share. On average, equities analysts expect that Onto Innovation Inc. will post 5.18 EPS 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.