Onto Innovation Inc. (NYSE:ONTO) Shares Bought by KBC Group NV

KBC Group NV increased its position in Onto Innovation Inc. (NYSE:ONTO) by 10.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,292 shares of the semiconductor company’s stock after acquiring an additional 121 shares during the period. KBC Group NV’s holdings in Onto Innovation were worth $268,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ONTO. Millennium Management LLC lifted its holdings in shares of Onto Innovation by 304.9% in the second quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company’s stock valued at $98,329,000 after purchasing an additional 337,250 shares in the last quarter. Congress Asset Management Co. grew its holdings in Onto Innovation by 38.1% during the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock valued at $222,670,000 after buying an additional 295,869 shares during the last quarter. Natixis Advisors LLC increased its position in Onto Innovation by 379.8% during the second quarter. Natixis Advisors LLC now owns 245,144 shares of the semiconductor company’s stock worth $53,824,000 after buying an additional 194,056 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Onto Innovation by 28.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock worth $188,115,000 after acquiring an additional 189,769 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Onto Innovation in the third quarter valued at $30,418,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Trading Up 0.7 %

Shares of Onto Innovation stock opened at $162.78 on Wednesday. The business’s fifty day moving average price is $196.38 and its 200 day moving average price is $205.99. Onto Innovation Inc. has a twelve month low of $133.67 and a twelve month high of $238.93. The stock has a market capitalization of $8.04 billion, a P/E ratio of 44.11, a PEG ratio of 1.02 and a beta of 1.37.

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

Insiders Place Their Bets

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the firm’s 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 transaction, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at $3,326,202. This trade represents a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Needham & Company LLC cut their target price on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Oppenheimer upped their price objective on shares of Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Jefferies Financial Group decreased their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Benchmark reiterated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Onto Innovation currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.29.

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.