20,025 Shares in Onto Innovation Inc. (NYSE:ONTO) Purchased by Quantbot Technologies LP

Quantbot Technologies LP bought a new position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 20,025 shares of the semiconductor company's stock, valued at approximately $4,156,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ONTO. Millennium Management LLC lifted its stake in Onto Innovation by 304.9% during the second quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company's stock worth $98,329,000 after purchasing an additional 337,250 shares during the period. Congress Asset Management Co. raised its stake in shares of Onto Innovation by 38.1% in the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company's stock valued at $222,670,000 after acquiring an additional 295,869 shares during the last quarter. Citigroup Inc. raised its stake in shares of Onto Innovation by 811.7% in the third quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company's stock valued at $66,236,000 after acquiring an additional 284,115 shares during the last quarter. Natixis Advisors LLC raised its stake in shares of Onto Innovation by 379.8% in 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 last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake 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 valued at $188,115,000 after acquiring an additional 189,769 shares during the last quarter. Institutional investors own 98.35% of the company's stock.

Onto Innovation Stock Down 1.4 %

Shares of ONTO stock opened at $162.90 on Wednesday. Onto Innovation Inc. has a 12-month low of $134.11 and a 12-month high of $238.93. The firm has a market capitalization of $8.05 billion, a price-to-earnings ratio of 44.15, a price-to-earnings-growth ratio of 1.05 and a beta of 1.37. The firm has a fifty day moving average of $193.11 and a 200-day moving average of $204.06.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $252.20 million during 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%. The firm's revenue was up 21.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 EPS. Research analysts expect that Onto Innovation Inc. will post 5.22 earnings per share for the current year.

Insider Buying and Selling

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were 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 of the company's stock, valued at $3,326,202. The trade was a 7.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.72% of the company's stock.

Analyst Ratings Changes

ONTO has been the subject of several research analyst reports. Needham & Company LLC dropped their price objective on shares of Onto Innovation from $245.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, November 1st. Benchmark restated a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, November 1st. Oppenheimer lifted their target price on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Finally, Jefferies Financial Group lowered their target price on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $254.29.

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.

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