Crossmark Global Holdings Inc. Increases Position in Onto Innovation Inc. (NYSE:ONTO)

Crossmark Global Holdings Inc. boosted its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 25.3% during the third quarter, HoldingsChannel.com reports. The firm owned 3,805 shares of the semiconductor company’s stock after purchasing an additional 769 shares during the period. Crossmark Global Holdings Inc.’s holdings in Onto Innovation were worth $790,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. QRG Capital Management Inc. boosted its stake in shares of Onto Innovation by 2.7% in the second quarter. QRG Capital Management Inc. now owns 1,935 shares of the semiconductor company’s stock worth $425,000 after acquiring an additional 50 shares during the last quarter. Magnetar Financial LLC grew its holdings in shares of Onto Innovation by 4.0% during the second quarter. Magnetar Financial LLC now owns 1,622 shares of the semiconductor company’s stock worth $356,000 after buying an additional 63 shares in the last quarter. Shaker Investments LLC OH raised its position in shares of Onto Innovation by 1.7% in the second quarter. Shaker Investments LLC OH now owns 3,928 shares of the semiconductor company’s stock valued at $862,000 after buying an additional 64 shares during the last quarter. Quarry LP lifted its stake in shares of Onto Innovation by 232.4% in the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after buying an additional 79 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC boosted its position in 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 acquiring an additional 80 shares during the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ONTO. Needham & Company LLC decreased their target price on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Oppenheimer lifted their price objective on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Benchmark reissued a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, November 1st. Finally, Jefferies Financial Group cut their target price on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Onto Innovation has a consensus rating of “Moderate Buy” and an average target price of $254.29.

Insider Transactions at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of the business’s stock in a transaction 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 in the company, valued at approximately $3,326,202. The trade was 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.

Onto Innovation Price Performance

NYSE:ONTO opened at $164.75 on Friday. Onto Innovation Inc. has a 52 week low of $131.78 and a 52 week high of $238.93. The stock’s fifty day moving average is $197.60 and its two-hundred day moving average is $206.45. The company has a market capitalization of $8.14 billion, a P/E ratio of 44.65, a P/E/G ratio of 1.12 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.03. The firm had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. Onto Innovation’s revenue was up 21.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 EPS. Sell-side analysts anticipate that Onto Innovation Inc. will post 5.19 earnings per share for the current fiscal 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.