Onto Innovation Inc. (NYSE:ONTO) Shares Purchased by Swedbank AB

Swedbank AB raised its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 32.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 82,500 shares of the semiconductor company's stock after purchasing an additional 20,100 shares during the period. Swedbank AB owned 0.17% of Onto Innovation worth $17,124,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Onto Innovation by 24.6% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 202,425 shares of the semiconductor company's stock valued at $44,444,000 after purchasing an additional 39,955 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings 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 buying an additional 2,753 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position in Onto Innovation by 45.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 105,267 shares of the semiconductor company's stock worth $23,112,000 after acquiring an additional 33,025 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Onto Innovation during the third quarter worth $14,539,000. Finally, XTX Topco Ltd purchased a new position in shares of Onto Innovation during the 2nd quarter worth $2,336,000. Hedge funds and other institutional investors own 98.35% of the company's stock.

Onto Innovation Stock Performance

NYSE:ONTO opened at $162.90 on Wednesday. Onto Innovation Inc. has a 1 year low of $134.11 and a 1 year high of $238.93. The stock has a market cap of $8.05 billion, a P/E ratio of 44.15, a P/E/G ratio of 1.05 and a beta of 1.37. The stock has a 50-day simple moving average of $193.11 and a 200-day simple moving average of $204.06.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The company had revenue of $252.20 million for the quarter, compared to analysts' expectations of $250.85 million. During the same quarter last year, the company earned $0.96 earnings per share. The firm's revenue for the quarter was up 21.7% on a year-over-year basis. On average, equities research analysts predict that Onto Innovation Inc. will post 5.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ONTO. Oppenheimer increased their price objective on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Jefferies Financial Group dropped their price objective on Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Needham & Company LLC decreased their target price on Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Finally, Benchmark reaffirmed a "buy" rating and issued a $230.00 target price on shares of Onto Innovation 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $254.29.

Insider Activity at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the firm's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total transaction of $264,231.00. Following the transaction, the senior vice president now directly owns 16,050 shares of the company's stock, valued at approximately $3,326,202. This trade represents a 7.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.72% of the company's stock.

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.