Bank of Montreal Can Has $10.94 Million Holdings in Onto Innovation Inc. (NYSE:ONTO)

Bank of Montreal Can grew its stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 644.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,782 shares of the semiconductor company's stock after purchasing an additional 43,959 shares during the quarter. Bank of Montreal Can owned approximately 0.10% of Onto Innovation worth $10,937,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Millennium Management LLC raised 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 acquiring an additional 337,250 shares during the period. Congress Asset Management Co. grew its position in Onto Innovation by 38.1% in the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company's stock worth $222,670,000 after purchasing an additional 295,869 shares during the last quarter. Citigroup Inc. grew its position in Onto Innovation by 811.7% in the 3rd quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company's stock worth $66,236,000 after purchasing an additional 284,115 shares during the last quarter. Natixis Advisors LLC grew its position in Onto Innovation by 379.8% in the 2nd quarter. Natixis Advisors LLC now owns 245,144 shares of the semiconductor company's stock worth $53,824,000 after purchasing an additional 194,056 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Onto Innovation by 28.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company's stock worth $188,115,000 after purchasing an additional 189,769 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

Insider Activity at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total value of $264,231.00. Following the completion of the sale, the senior vice president now owns 16,050 shares in the company, valued at $3,326,202. This represents a 7.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is owned by insiders.

Onto Innovation Stock Up 4.8 %

NYSE:ONTO traded up $7.90 during trading hours on Monday, reaching $172.08. 198,137 shares of the company's stock were exchanged, compared to its average volume of 592,087. The company has a market capitalization of $8.50 billion, a P/E ratio of 44.99, a price-to-earnings-growth ratio of 1.05 and a beta of 1.37. Onto Innovation Inc. has a 12 month low of $134.11 and a 12 month high of $238.93. The business's 50-day simple moving average is $191.02 and its two-hundred day simple moving average is $202.67.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.31 by $0.03. The business had revenue of $252.20 million during the quarter, compared to the consensus estimate of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The firm's quarterly revenue was up 21.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.96 EPS. As a group, sell-side analysts anticipate that Onto Innovation Inc. will post 5.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ONTO shares. Benchmark reiterated a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, November 1st. Needham & Company LLC decreased their price objective on shares of Onto Innovation from $245.00 to $230.00 and set a "buy" rating for the company in a report on Friday, November 1st. Jefferies Financial Group decreased their price objective 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. Finally, Oppenheimer increased their price objective on shares of Onto Innovation from $260.00 to $275.00 and gave the company an "outperform" rating in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company 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.