Nordea Investment Management AB Raises Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Nordea Investment Management AB lifted its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,973 shares of the semiconductor company's stock after buying an additional 4,389 shares during the period. Nordea Investment Management AB owned about 0.18% of Onto Innovation worth $15,118,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP raised its stake in shares of Onto Innovation by 232.4% in the second quarter. Quarry LP now owns 113 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. raised 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 worth $27,000 after purchasing an additional 108 shares during the period. Versant Capital Management Inc lifted its stake in Onto Innovation by 532.4% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company's stock worth $39,000 after purchasing an additional 197 shares during the last quarter. Eastern Bank purchased a new position in shares of Onto Innovation during the third quarter valued at approximately $65,000. Finally, UMB Bank n.a. grew its stake in shares of Onto Innovation by 62.0% during the third quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company's stock valued at $67,000 after buying an additional 124 shares during the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ONTO has been the subject of a number of research analyst reports. 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. Oppenheimer reiterated an "outperform" rating and set a $275.00 target price on shares of Onto Innovation in a research report on Tuesday, December 17th. Needham & Company LLC lowered their target price on shares of Onto Innovation from $245.00 to $230.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Finally, Jefferies Financial Group reduced their price target 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. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Onto Innovation presently has a consensus rating of "Moderate Buy" and an average target price of $254.29.

Onto Innovation Trading Down 0.9 %

Shares of Onto Innovation stock traded down $1.68 during trading on Thursday, hitting $191.88. 534,378 shares of the stock traded hands, compared to its average volume of 786,956. The stock's fifty day simple moving average is $170.75 and its 200 day simple moving average is $192.80. The firm has a market cap of $9.48 billion, a P/E ratio of 52.00, a price-to-earnings-growth ratio of 1.07 and a beta of 1.29. Onto Innovation Inc. has a 52-week low of $136.32 and a 52-week high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.31 by $0.03. The business had revenue of $252.20 million for 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 company's revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 EPS. As a group, equities analysts expect 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.