Thrivent Financial for Lutherans Has $66.74 Million Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Thrivent Financial for Lutherans cut its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 321,520 shares of the semiconductor company's stock after selling 4,812 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.65% of Onto Innovation worth $66,735,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Quarry LP grew its holdings in Onto Innovation by 232.4% in the 2nd 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. raised its stake in shares of Onto Innovation by 675.0% in the 2nd 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 in the last quarter. LGT Financial Advisors LLC boosted its stake in Onto Innovation by 58.1% during the second 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 in the last quarter. Fifth Third Bancorp grew 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 worth $64,000 after acquiring an additional 84 shares during the period. Finally, Eastern Bank bought a new stake in Onto Innovation in the third quarter worth about $65,000. 98.35% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Onto Innovation Price Performance

ONTO traded up $3.12 during trading on Monday, reaching $161.66. 978,766 shares of the stock traded hands, compared to its average volume of 587,617. The stock has a market cap of $7.98 billion, a price-to-earnings ratio of 42.96, a price-to-earnings-growth ratio of 1.02 and a beta of 1.37. Onto Innovation Inc. has a fifty-two week low of $133.67 and a fifty-two week high of $238.93. The stock's 50-day simple moving average is $196.76 and its two-hundred day simple moving average is $206.23.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.03. The firm had revenue of $252.20 million during the quarter, compared to analysts' expectations of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The business's revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.96 earnings per share. Research analysts anticipate that Onto Innovation Inc. will post 5.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ONTO. Jefferies Financial Group cut their target price on shares of 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 restated a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a report 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 report on Friday, November 1st. Finally, Oppenheimer lifted their target price on Onto Innovation from $260.00 to $275.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average 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.