67,508 Shares in Onto Innovation Inc. (NYSE:ONTO) Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 67,508 shares of the semiconductor company's stock, valued at approximately $14,539,000. Mirae Asset Global Investments Co. Ltd. owned approximately 0.14% of Onto Innovation at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. QRG Capital Management Inc. lifted its stake in shares of Onto Innovation by 2.7% during the second 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 in the last quarter. Magnetar Financial LLC lifted its stake in shares of Onto Innovation by 4.0% during the second quarter. Magnetar Financial LLC now owns 1,622 shares of the semiconductor company's stock worth $356,000 after purchasing an additional 63 shares in the last quarter. Shaker Investments LLC OH lifted its stake in shares of 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 in the last quarter. Quarry LP increased its position in shares of 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 acquiring an additional 79 shares during the last quarter. Finally, Hunter Perkins Capital Management LLC increased its position in shares of 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. Institutional investors and hedge funds own 98.35% of the company's stock.

Analysts Set New Price Targets

ONTO has been the topic of a number of analyst reports. Oppenheimer lifted their target price on Onto Innovation from $260.00 to $275.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 1st. Stifel Nicolaus lifted their target price on Onto Innovation from $240.00 to $270.00 and gave the stock a "buy" rating in a research report on Monday, July 15th. Benchmark reaffirmed a "buy" rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday, August 9th. Finally, Needham & Company LLC raised Onto Innovation from a "hold" rating to a "buy" rating in a report on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $261.67.

Insider Buying and Selling at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total transaction 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 $3,326,202. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.72% of the stock is currently owned by corporate insiders.

Onto Innovation Price Performance

ONTO stock traded up $1.51 on Friday, reaching $204.39. The company's stock had a trading volume of 451,948 shares, compared to its average volume of 560,460. Onto Innovation Inc. has a 52 week low of $108.98 and a 52 week high of $238.93. The company has a market capitalization of $10.07 billion, a P/E ratio of 72.74, a price-to-earnings-growth ratio of 1.32 and a beta of 1.36. The firm has a fifty day moving average of $203.78 and a two-hundred day moving average of $206.23.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.12. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The business had revenue of $242.33 million during the quarter, compared to analyst estimates of $235.43 million. During the same period in the prior year, the company posted $0.79 EPS. The business's revenue for the quarter was up 27.1% compared to the same quarter last year. As a group, equities analysts expect that Onto Innovation Inc. will post 5.18 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.