Blue Trust Inc. Purchases 842 Shares of Onto Innovation Inc. (NYSE:ONTO)

Blue Trust Inc. increased its position in Onto Innovation Inc. (NYSE:ONTO) by 28,066.7% during the third quarter, Holdings Channel.com reports. The firm owned 845 shares of the semiconductor company’s stock after buying an additional 842 shares during the quarter. Blue Trust Inc.’s holdings in Onto Innovation were worth $186,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ONTO. Vaughan Nelson Investment Management L.P. bought a new stake in Onto Innovation during the 1st quarter worth approximately $29,420,000. Allspring Global Investments Holdings LLC raised its position in Onto Innovation by 58.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 470,059 shares of the semiconductor company’s stock valued at $85,118,000 after buying an additional 174,010 shares during the last quarter. Deepwater Asset Management LLC bought a new position in Onto Innovation during the 1st quarter valued at $1,597,000. State of Michigan Retirement System boosted its holdings in Onto Innovation by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 12,100 shares of the semiconductor company’s stock worth $2,191,000 after acquiring an additional 300 shares during the last quarter. Finally, Norden Group LLC bought a new stake in shares of Onto Innovation in the 1st quarter worth $654,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

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 transaction of $264,231.00. Following the sale, the senior vice president now directly owns 16,050 shares in the company, valued at approximately $3,326,202. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Onto Innovation Stock Performance

Shares of Onto Innovation stock opened at $204.39 on Friday. The stock has a market capitalization of $10.09 billion, a P/E ratio of 61.01, a P/E/G ratio of 1.32 and a beta of 1.36. Onto Innovation Inc. has a 52-week low of $108.98 and a 52-week high of $238.93. The stock’s 50-day simple moving average is $203.78 and its 200 day simple moving average is $206.10.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.12. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The company had revenue of $242.33 million for the quarter, compared to analysts’ expectations of $235.43 million. During the same period in the prior year, the company posted $0.79 EPS. Onto Innovation’s revenue was up 27.1% compared to the same quarter last year. Equities research analysts forecast that Onto Innovation Inc. will post 5.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ONTO has been the topic of several analyst reports. Needham & Company LLC upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a report on Monday, August 19th. Stifel Nicolaus upped their target price on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 15th. Oppenheimer lifted their price target on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Benchmark restated a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Onto Innovation currently has a consensus rating of “Moderate Buy” and an average price target of $261.67.

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.