US Bancorp DE Increases Holdings in Onto Innovation Inc. (NYSE:ONTO)

US Bancorp DE grew its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 185.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,612 shares of the semiconductor company's stock after acquiring an additional 8,193 shares during the quarter. US Bancorp DE's holdings in Onto Innovation were worth $2,618,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Quarry LP grew its holdings 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 buying an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Onto Innovation by 675.0% during the second 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 during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Onto Innovation during the first quarter worth $28,000. LGT Financial Advisors LLC raised its holdings in shares of Onto Innovation by 58.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company's stock valued at $54,000 after buying an additional 90 shares during the period. Finally, Fifth Third Bancorp grew its holdings in shares of Onto Innovation by 40.2% in the second quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company's stock valued at $64,000 after purchasing an additional 84 shares in the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Onto Innovation Stock Performance

Shares of NYSE ONTO traded up $4.86 during trading hours on Wednesday, hitting $178.58. The stock had a trading volume of 1,391,380 shares, compared to its average volume of 576,291. Onto Innovation Inc. has a 52 week low of $117.44 and a 52 week high of $238.93. The company has a market capitalization of $8.82 billion, a P/E ratio of 47.06, a P/E/G ratio of 1.13 and a beta of 1.37. The firm's 50-day moving average price is $201.06 and its two-hundred day moving average price is $206.85.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, topping the consensus estimate 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 net margin of 19.44% and a return on equity of 13.38%. The firm's quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.96 EPS. As a group, analysts expect that Onto Innovation Inc. will post 5.19 EPS for the current fiscal year.

Insider Transactions at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of the firm's stock in a transaction that occurred on 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 $3,326,202. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ONTO shares. Oppenheimer upped their target price on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Stifel Nicolaus increased their price objective on Onto Innovation from $240.00 to $270.00 and gave the company a "buy" rating in a report on Monday, July 15th. Benchmark restated a "buy" rating and issued a $230.00 price target on shares of Onto Innovation in a research report on Friday, November 1st. Needham & Company LLC cut their price objective on shares of Onto Innovation from $245.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, November 1st. Finally, Jefferies Financial Group reduced their price target on Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a 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 stock. According to MarketBeat.com, Onto Innovation has an average rating of "Moderate Buy" and a consensus target price of $254.29.

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.