Citigroup Inc. Raises Holdings in Onto Innovation Inc. (NYSE:ONTO)

Citigroup Inc. increased its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 811.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 319,116 shares of the semiconductor company's stock after acquiring an additional 284,115 shares during the quarter. Citigroup Inc. owned about 0.65% of Onto Innovation worth $66,236,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. QRG Capital Management Inc. raised its holdings in Onto Innovation by 2.7% in the 2nd quarter. QRG Capital Management Inc. now owns 1,935 shares of the semiconductor company's stock worth $425,000 after purchasing an additional 50 shares during the period. Magnetar Financial LLC grew its holdings in Onto Innovation by 4.0% in the 2nd quarter. Magnetar Financial LLC now owns 1,622 shares of the semiconductor company's stock valued at $356,000 after buying an additional 63 shares in the last quarter. Shaker Investments LLC OH increased its position in Onto Innovation by 1.7% during the second quarter. Shaker Investments LLC OH now owns 3,928 shares of the semiconductor company's stock worth $862,000 after purchasing an additional 64 shares during the last quarter. Quarry LP increased its holdings in shares of Onto Innovation by 232.4% during the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company's stock worth $25,000 after buying an additional 79 shares during the last quarter. Finally, Hunter Perkins Capital Management LLC increased its stake in Onto Innovation by 3.6% during the third quarter. Hunter Perkins Capital Management LLC now owns 2,325 shares of the semiconductor company's stock worth $483,000 after acquiring an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

Onto Innovation Trading Down 0.1 %

Shares of Onto Innovation stock traded down $0.21 on Friday, hitting $166.29. The stock had a trading volume of 967,127 shares, compared to its average volume of 898,519. The stock has a market cap of $8.21 billion, a price-to-earnings ratio of 45.07, a P/E/G ratio of 1.07 and a beta of 1.37. Onto Innovation Inc. has a 52-week low of $134.11 and a 52-week high of $238.93. The company's 50 day moving average price is $194.17 and its 200 day moving average price is $204.80.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.03. The company had revenue of $252.20 million during the quarter, compared to analysts' expectations of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The firm's revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 earnings per share. Analysts predict that Onto Innovation Inc. will post 5.19 EPS for the current fiscal year.

Insider Activity

In related news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation stock in a transaction 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 transaction, the senior vice president now directly owns 16,050 shares in the company, valued at $3,326,202. This trade represents a 7.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ONTO shares. Oppenheimer increased their target price on Onto Innovation from $260.00 to $275.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Jefferies Financial Group dropped their price target on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Benchmark reiterated a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. Finally, Needham & Company LLC cut their price target on Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock 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. According to MarketBeat, the stock 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.