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

KBC Group NV lifted its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 10.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,292 shares of the semiconductor company’s stock after purchasing 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 institutional investors and hedge funds have also made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its holdings in Onto Innovation by 27.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,789 shares of the semiconductor company’s stock worth $3,221,000 after buying an additional 3,800 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Onto Innovation by 1.3% in the first quarter. Vanguard Group Inc. now owns 5,254,287 shares of the semiconductor company’s stock valued at $951,446,000 after purchasing an additional 65,472 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in Onto Innovation by 10.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,381 shares of the semiconductor company’s stock valued at $612,000 after purchasing an additional 317 shares in the last quarter. Bessemer Group Inc. increased its holdings in Onto Innovation by 7.0% during the 1st quarter. Bessemer Group Inc. now owns 119,890 shares of the semiconductor company’s stock worth $21,709,000 after purchasing an additional 7,815 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Onto Innovation in the 1st quarter valued at approximately $1,171,000. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ONTO has been the subject of a number of research analyst reports. Needham & Company LLC dropped their price target 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. Benchmark restated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, November 1st. Jefferies Financial Group decreased their price target 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. Finally, Oppenheimer upped their price objective on Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $254.29.

Insider Activity

In other news, SVP Srinivas Vedula sold 1,275 shares of the 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 completion of the transaction, the senior vice president now owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. This represents a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.72% of the company’s stock.

Onto Innovation Price Performance

Shares of NYSE ONTO opened at $162.78 on Wednesday. The firm has a market capitalization of $8.04 billion, a PE ratio of 44.11, a P/E/G ratio of 1.02 and a beta of 1.37. Onto Innovation Inc. has a 1-year low of $133.67 and a 1-year high of $238.93. The business’s fifty day moving average price is $196.38 and its two-hundred day moving average price is $205.99.

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, topping analysts’ consensus estimates of $1.31 by $0.03. The business had revenue of $252.20 million for the quarter, compared to analysts’ expectations of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.96 EPS. Equities research analysts expect that Onto Innovation Inc. will post 5.19 earnings per share for the current fiscal year.

About Onto Innovation

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.