Onto Innovation Inc. (NYSE:ONTO) Shares Acquired by Bridgewater Associates LP

Bridgewater Associates LP grew its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 28.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 43,345 shares of the semiconductor company's stock after purchasing an additional 9,495 shares during the quarter. Bridgewater Associates LP owned approximately 0.09% of Onto Innovation worth $8,997,000 as of its most recent filing with the SEC.

Other hedge funds 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 purchasing an additional 79 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings 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 worth $27,000 after buying an additional 108 shares during the last quarter. LGT Financial Advisors LLC grew its holdings in shares of 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 during the last quarter. Fifth Third Bancorp grew its holdings in shares of 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 last quarter. Finally, Eastern Bank purchased a new position in shares of Onto Innovation during the third quarter worth about $65,000. Hedge funds and other institutional investors own 98.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Needham & Company LLC lowered their price target on Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Oppenheimer raised their price target on Onto Innovation from $260.00 to $275.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Benchmark reissued a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, November 1st. Finally, Jefferies Financial Group lowered their price target on Onto Innovation from $265.00 to $245.00 and set a "buy" rating on the stock in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Onto Innovation presently has an average rating of "Moderate Buy" and an average price target of $254.29.

Onto Innovation Price Performance

Shares of ONTO stock traded up $3.14 during midday trading on Friday, reaching $164.18. 449,965 shares of the company traded hands, compared to its average volume of 593,872. The firm has a market cap of $8.11 billion, a PE ratio of 44.49, a price-to-earnings-growth ratio of 1.03 and a beta of 1.37. The firm's 50 day simple moving average is $191.73 and its two-hundred day simple moving average is $203.46. Onto Innovation Inc. has a 1-year low of $134.11 and a 1-year 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 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.03. The company 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%. Onto Innovation's revenue was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.96 earnings per share. As a group, research analysts anticipate that Onto Innovation Inc. will post 5.22 earnings per share for the current fiscal year.

Insider Activity

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the company's stock in a transaction dated 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 in the company, valued at $3,326,202. This represents a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.72% of the company's stock.

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.