Migdal Insurance & Financial Holdings Ltd. Purchases New Holdings in Onto Innovation Inc. (NYSE:ONTO)

Migdal Insurance & Financial Holdings Ltd. bought a new stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 112,580 shares of the semiconductor company's stock, valued at approximately $23,367,000. Migdal Insurance & Financial Holdings Ltd. owned about 0.23% of Onto Innovation as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Duality Advisers LP purchased a new stake in shares of Onto Innovation in the 1st quarter valued at $719,000. SG Americas Securities LLC grew its position in Onto Innovation by 386.3% in the 1st quarter. SG Americas Securities LLC now owns 7,406 shares of the semiconductor company's stock valued at $1,341,000 after acquiring an additional 5,883 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Onto Innovation during the first quarter worth about $204,000. Sei Investments Co. lifted its position in shares of Onto Innovation by 15.1% during the first quarter. Sei Investments Co. now owns 143,628 shares of the semiconductor company's stock worth $26,008,000 after purchasing an additional 18,843 shares in the last quarter. Finally, Meeder Advisory Services Inc. purchased a new position in shares of Onto Innovation in the first quarter valued at approximately $200,000. Hedge funds and other institutional investors own 98.35% of the company's stock.

Insider Activity at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was 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 directly owns 16,050 shares of the company's stock, valued at approximately $3,326,202. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group cut their target price on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Oppenheimer upped their price objective on Onto Innovation from $260.00 to $275.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Stifel Nicolaus lifted their target price on Onto Innovation from $240.00 to $270.00 and gave the company a "buy" rating in a report on Monday, July 15th. Benchmark reissued a "buy" rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, November 1st. Finally, 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 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 company's stock. According to MarketBeat, Onto Innovation presently has a consensus rating of "Moderate Buy" and an average target price of $254.29.

Onto Innovation Price Performance

Shares of ONTO traded down $0.25 during mid-day trading on Friday, reaching $176.04. The company's stock had a trading volume of 1,216,407 shares, compared to its average volume of 833,871. The company's 50 day moving average is $199.08 and its 200 day moving average is $206.69. The stock has a market cap of $8.69 billion, a PE ratio of 47.71, a price-to-earnings-growth ratio of 1.15 and a beta of 1.37. Onto Innovation Inc. has a 12-month low of $118.90 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.

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.