ING Groep NV Takes Position in Onto Innovation Inc. (NYSE:ONTO)

ING Groep NV purchased a new stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 57,300 shares of the semiconductor company's stock, valued at approximately $11,893,000. ING Groep NV owned 0.12% of Onto Innovation at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP lifted its stake in Onto Innovation by 232.4% during the second quarter. Quarry LP now owns 113 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company's stock valued at $27,000 after acquiring an additional 108 shares in the last quarter. LGT Financial Advisors LLC increased its stake in Onto Innovation by 58.1% during the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company's stock worth $54,000 after purchasing an additional 90 shares during the period. Fifth Third Bancorp lifted its position in shares of Onto Innovation by 40.2% during the second quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company's stock worth $64,000 after purchasing an additional 84 shares in the last quarter. Finally, Eastern Bank acquired a new stake in shares of Onto Innovation during the third quarter worth about $65,000. Hedge funds and other institutional investors own 98.35% of the company's stock.

Insider Buying and Selling at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of the company's 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Oppenheimer increased 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. Jefferies Financial Group reduced their price objective 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. 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 equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Onto Innovation currently has an average rating of "Moderate Buy" and an average price target of $254.29.

Onto Innovation Price Performance

Shares of ONTO traded down $6.27 during mid-day trading on Friday, reaching $158.48. The company's stock had a trading volume of 941,980 shares, compared to its average volume of 585,864. The company's 50 day moving average is $197.14 and its 200 day moving average is $206.16. The stock has a market cap of $7.83 billion, a PE ratio of 43.37, a price-to-earnings-growth ratio of 1.06 and a beta of 1.37. Onto Innovation Inc. has a 12-month low of $131.78 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The company 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 earned $0.96 earnings per share. The firm's revenue for the quarter was up 21.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Onto Innovation Inc. will post 5.19 EPS for the current fiscal 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.