Franklin Resources Inc. Acquires 54,868 Shares of Onto Innovation Inc. (NYSE:ONTO)

Franklin Resources Inc. grew its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 4.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,281,801 shares of the semiconductor company's stock after purchasing an additional 54,868 shares during the quarter. Franklin Resources Inc. owned approximately 2.60% of Onto Innovation worth $288,320,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ONTO. Wealth Enhancement Advisory Services LLC lifted its stake in Onto Innovation by 45.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,628 shares of the semiconductor company's stock valued at $357,000 after purchasing an additional 510 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Onto Innovation by 98.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company's stock worth $1,218,000 after acquiring an additional 2,753 shares during the period. Swedbank AB increased its holdings in Onto Innovation by 372.7% in the 2nd quarter. Swedbank AB now owns 62,400 shares of the semiconductor company's stock worth $13,701,000 after acquiring an additional 49,200 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in Onto Innovation in the 2nd quarter valued at about $920,000. Finally, Fifth Third Bancorp lifted its holdings in Onto Innovation by 40.2% during 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 during the last quarter. 98.35% of the stock is currently owned by institutional investors.

Onto Innovation Trading Up 0.4 %

NYSE ONTO traded up $0.64 on Friday, hitting $167.09. The company's stock had a trading volume of 511,854 shares, compared to its average volume of 596,132. Onto Innovation Inc. has a 52-week low of $134.11 and a 52-week high of $238.93. The company's 50-day simple moving average is $183.14 and its 200 day simple moving average is $198.60. The firm has a market cap of $8.25 billion, a P/E ratio of 45.28, a PEG ratio of 1.07 and a beta of 1.30.

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, topping analysts' consensus estimates of $1.31 by $0.03. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The business had revenue of $252.20 million during the quarter, compared to analyst estimates of $250.85 million. During the same quarter last year, the company earned $0.96 EPS. The company's quarterly revenue was up 21.7% compared to the same quarter last year. On average, research analysts forecast that Onto Innovation Inc. will post 5.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ONTO. Oppenheimer boosted their price target on shares of Onto Innovation from $260.00 to $275.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Needham & Company LLC lowered their target price on shares of Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Jefferies Financial Group cut 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. Finally, Benchmark reiterated a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a research note 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, the company has an average rating of "Moderate Buy" and a consensus target price of $254.29.

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.