Oddo BHF Asset Management Sas Buys New Shares in Onto Innovation Inc. (NYSE:ONTO)

Oddo BHF Asset Management Sas purchased a new position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,886 shares of the semiconductor company's stock, valued at approximately $1,429,000.

Several other large investors have also recently added to or reduced their stakes in ONTO. Quarry LP boosted its position in shares of Onto Innovation by 232.4% during the 2nd 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. lifted its stake in shares of Onto Innovation by 675.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 108 shares during the period. LGT Financial Advisors LLC boosted its holdings 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 buying an additional 90 shares in the last quarter. Fifth Third Bancorp grew its position in 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 buying an additional 84 shares during the period. Finally, Eastern Bank acquired a new position in Onto Innovation during the third quarter worth about $65,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on ONTO. Benchmark reiterated a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, November 1st. Oppenheimer lifted their price objective on Onto Innovation from $260.00 to $275.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Needham & Company LLC lowered their target price on Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Finally, Jefferies Financial Group dropped their price target on Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Onto Innovation currently has a consensus rating of "Moderate Buy" and a consensus price target of $254.29.

Onto Innovation Price Performance

Onto Innovation stock traded up $0.64 during mid-day trading on Friday, hitting $167.09. 511,854 shares of the company were exchanged, compared to its average volume of 596,132. Onto Innovation Inc. has a 12-month low of $134.11 and a 12-month high of $238.93. The company has a market capitalization of $8.25 billion, a P/E ratio of 45.28, a PEG ratio of 1.07 and a beta of 1.30. The business's 50 day simple moving average is $183.14 and its two-hundred day simple moving average is $198.82.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its quarterly earnings data 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 analyst estimates of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The business's revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.96 earnings per share. Equities research analysts predict that Onto Innovation Inc. will post 5.22 earnings per share for the current year.

Onto Innovation 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.