Glenmede Trust Co. NA Acquires 37,966 Shares of Onto Innovation Inc. (NYSE:ONTO)

Glenmede Trust Co. NA lifted its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 250.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,097 shares of the semiconductor company's stock after purchasing an additional 37,966 shares during the period. Glenmede Trust Co. NA owned about 0.11% of Onto Innovation worth $11,021,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vaughan Nelson Investment Management L.P. increased its position in Onto Innovation by 24.6% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 202,425 shares of the semiconductor company's stock worth $44,444,000 after purchasing an additional 39,955 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Onto Innovation by 98.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company's stock worth $1,218,000 after acquiring an additional 2,753 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of Onto Innovation by 45.7% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 105,267 shares of the semiconductor company's stock worth $23,112,000 after acquiring an additional 33,025 shares in the last quarter. Swedbank AB boosted its stake in shares of Onto Innovation by 372.7% during the 2nd quarter. Swedbank AB now owns 62,400 shares of the semiconductor company's stock worth $13,701,000 after acquiring an additional 49,200 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Onto Innovation during the 3rd quarter worth approximately $14,539,000. Institutional investors and hedge funds own 98.35% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ONTO. Benchmark reissued a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a research note on Friday, November 1st. Needham & Company LLC reduced their price target on Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Jefferies Financial Group reduced their price target on Onto Innovation from $265.00 to $245.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Finally, Oppenheimer increased their price target on Onto Innovation from $260.00 to $275.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Onto Innovation has an average rating of "Moderate Buy" and an average target price of $254.29.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation 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 transaction, the senior vice president now owns 16,050 shares in the company, valued at approximately $3,326,202. The trade was a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is owned by company insiders.

Onto Innovation Trading Up 1.9 %

NYSE:ONTO traded up $3.14 on Friday, reaching $164.18. The stock had a trading volume of 449,981 shares, compared to its average volume of 593,872. The company has a 50-day moving average of $191.02 and a 200 day moving average of $202.88. The stock has a market cap of $8.11 billion, a P/E ratio of 44.49, a price-to-earnings-growth ratio of 1.03 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.

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, topping the consensus estimate of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The business had revenue of $252.20 million for the quarter, compared to analysts' expectations of $250.85 million. During the same quarter last year, the company posted $0.96 earnings per share. The company's quarterly revenue was up 21.7% compared to the same quarter last year. On average, equities analysts predict that Onto Innovation Inc. will post 5.22 EPS for the current 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.