Onto Innovation Inc. (NYSE:ONTO) Shares Bought by Systematic Financial Management LP

Systematic Financial Management LP raised its stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 153,547 shares of the semiconductor company's stock after purchasing an additional 3,369 shares during the period. Systematic Financial Management LP owned 0.31% of Onto Innovation worth $31,870,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Quantinno Capital Management LP boosted its holdings in Onto Innovation by 55.8% in the 3rd quarter. Quantinno Capital Management LP now owns 2,766 shares of the semiconductor company's stock valued at $574,000 after purchasing an additional 991 shares in the last quarter. Polar Asset Management Partners Inc. raised its position in Onto Innovation by 67.7% in the third quarter. Polar Asset Management Partners Inc. now owns 38,400 shares of the semiconductor company's stock worth $7,970,000 after acquiring an additional 15,500 shares in the last quarter. Morse Asset Management Inc lifted its holdings in Onto Innovation by 6.9% in the third quarter. Morse Asset Management Inc now owns 16,824 shares of the semiconductor company's stock valued at $3,492,000 after acquiring an additional 1,085 shares during the period. HighTower Advisors LLC boosted its position in shares of Onto Innovation by 72.0% during the 3rd quarter. HighTower Advisors LLC now owns 10,184 shares of the semiconductor company's stock worth $2,095,000 after purchasing an additional 4,263 shares in the last quarter. Finally, Hilltop Holdings Inc. acquired a new position in shares of Onto Innovation during the 3rd quarter worth $253,000. Hedge funds and other institutional investors own 98.35% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. 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 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. Benchmark reissued a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. Finally, Oppenheimer lifted their price target on Onto Innovation from $260.00 to $275.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $254.29.

Onto Innovation Trading Down 3.0 %

Shares of Onto Innovation stock traded down $5.10 during trading hours on Thursday, reaching $165.03. 552,704 shares of the company's stock were exchanged, compared to its average volume of 595,679. The firm has a market capitalization of $8.15 billion, a price-to-earnings ratio of 46.11, a price-to-earnings-growth ratio of 1.10 and a beta of 1.30. Onto Innovation Inc. has a 52-week low of $134.11 and a 52-week high of $238.93. The company has a fifty day moving average of $189.22 and a 200-day moving average of $201.71.

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

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.