Synovus Financial Corp Has $687,000 Holdings in Onto Innovation Inc. (NYSE:ONTO)

Synovus Financial Corp trimmed its stake in Onto Innovation Inc. (NYSE:ONTO) by 19.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,308 shares of the semiconductor company’s stock after selling 799 shares during the period. Synovus Financial Corp’s holdings in Onto Innovation were worth $687,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Magnetar Financial LLC raised its holdings in Onto Innovation by 4.0% in the 2nd quarter. Magnetar Financial LLC now owns 1,622 shares of the semiconductor company’s stock valued at $356,000 after acquiring an additional 63 shares in the last quarter. Shaker Investments LLC OH lifted its stake in Onto Innovation by 1.7% during the second quarter. Shaker Investments LLC OH now owns 3,928 shares of the semiconductor company’s stock worth $862,000 after purchasing an additional 64 shares during the period. Northwest & Ethical Investments L.P. boosted its holdings in Onto Innovation by 7.8% during the third quarter. Northwest & Ethical Investments L.P. now owns 1,050 shares of the semiconductor company’s stock valued at $218,000 after purchasing an additional 76 shares in the last quarter. Quarry LP grew its stake in shares of Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 79 shares during the period. Finally, Hunter Perkins Capital Management LLC raised its holdings in shares of Onto Innovation by 3.6% in the 3rd quarter. Hunter Perkins Capital Management LLC now owns 2,325 shares of the semiconductor company’s stock worth $483,000 after buying an additional 80 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

ONTO has been the topic of a number of analyst reports. Benchmark reiterated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research report on Friday, November 1st. Needham & Company LLC cut their price target on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a report on Friday, November 1st. Oppenheimer reaffirmed an “outperform” rating and set a $275.00 price objective on shares of Onto Innovation in a research note on Tuesday. Finally, 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. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Onto Innovation has an average rating of “Moderate Buy” and a consensus price target of $254.29.

Onto Innovation Trading Up 1.0 %

ONTO opened at $172.23 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 capitalization of $8.51 billion, a PE ratio of 46.67, a PEG ratio of 1.07 and a beta of 1.30. The firm has a 50-day moving average price of $181.68 and a two-hundred day moving average price of $197.73.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating 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%. During the same period in the prior year, the firm earned $0.96 earnings per share. Onto Innovation’s revenue was up 21.7% compared to the same quarter last year. On average, research analysts predict that Onto Innovation Inc. will post 5.22 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.