National Bank of Canada FI Buys Shares of 12,300 Onto Innovation Inc. (NYSE:ONTO)

National Bank of Canada FI purchased a new position in shares of Onto Innovation Inc. (NYSE:ONTO) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 12,300 shares of the semiconductor company’s stock, valued at approximately $2,553,000.

Other hedge funds also recently modified their holdings of the company. Quarry LP raised its stake in 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 acquiring an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Onto Innovation by 675.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 108 shares during the period. LGT Financial Advisors LLC lifted its stake in shares of Onto Innovation by 58.1% during the 2nd 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 boosted its holdings in Onto Innovation by 40.2% in the 2nd quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock worth $64,000 after buying an additional 84 shares during the period. Finally, Eastern Bank purchased a new position in Onto Innovation in the 3rd quarter valued at approximately $65,000. Institutional investors own 98.35% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on ONTO. Oppenheimer increased their target price on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Needham & Company LLC cut their target price on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Jefferies Financial Group reduced their target price on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, Benchmark reissued a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $254.29.

Onto Innovation Stock Up 0.4 %

NYSE:ONTO opened at $167.18 on Friday. The stock has a market cap of $8.26 billion, a P/E ratio of 45.38, a PEG ratio of 1.07 and a beta of 1.30. The business’s 50-day moving average price is $183.97 and its two-hundred day moving average price is $199.28. Onto Innovation Inc. has a twelve month low of $134.11 and a twelve month high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the business earned $0.96 earnings per share. Onto Innovation’s revenue for the quarter was up 21.7% compared to the same quarter last year. On average, equities research analysts expect that Onto Innovation Inc. will post 5.22 EPS for the current fiscal 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.