NorthCrest Asset Manangement LLC Buys 162 Shares of Onto Innovation Inc. (NYSE:ONTO)

NorthCrest Asset Manangement LLC increased its stake in Onto Innovation Inc. (NYSE:ONTO) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,412 shares of the semiconductor company’s stock after buying an additional 162 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Onto Innovation were worth $2,784,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ONTO. Vaughan Nelson Investment Management L.P. bought a new stake in Onto Innovation in the first quarter worth about $29,420,000. Allspring Global Investments Holdings LLC boosted its holdings in Onto Innovation by 58.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 470,059 shares of the semiconductor company’s stock valued at $85,118,000 after acquiring an additional 174,010 shares during the period. Deepwater Asset Management LLC bought a new position in Onto Innovation in the 1st quarter valued at $1,597,000. State of Michigan Retirement System grew its position in Onto Innovation by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 12,100 shares of the semiconductor company’s stock valued at $2,191,000 after acquiring an additional 300 shares during the last quarter. Finally, Norden Group LLC purchased a new stake in Onto Innovation in the first quarter worth $654,000. 98.35% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Srinivas Vedula sold 1,275 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 16,050 shares of the company’s stock, valued at $3,326,202. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Needham & Company LLC raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. Stifel Nicolaus boosted their price objective on shares of Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Benchmark reaffirmed a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday, August 9th. Finally, Oppenheimer boosted their price target on Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $261.67.

Onto Innovation Stock Up 0.7 %

Shares of NYSE:ONTO opened at $204.39 on Friday. The firm has a 50 day moving average of $203.78 and a 200 day moving average of $206.10. The company has a market capitalization of $10.09 billion, a price-to-earnings ratio of 61.01, a price-to-earnings-growth ratio of 1.32 and a beta of 1.36. Onto Innovation Inc. has a 52 week low of $108.98 and a 52 week high of $238.93.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.20 by $0.12. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The firm had revenue of $242.33 million during the quarter, compared to analyst estimates of $235.43 million. During the same period in the previous year, the company posted $0.79 EPS. The business’s revenue for the quarter was up 27.1% compared to the same quarter last year. On average, sell-side analysts expect that Onto Innovation Inc. will post 5.18 EPS for the current year.

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.