Onto Innovation Inc. (NYSE:ONTO) Shares Bought by Bridgewater Associates LP

Bridgewater Associates LP grew its holdings in Onto Innovation Inc. (NYSE:ONTO) by 28.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,345 shares of the semiconductor company’s stock after buying an additional 9,495 shares during the quarter. Bridgewater Associates LP owned about 0.09% of Onto Innovation worth $8,997,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Quarry LP lifted its holdings in Onto Innovation by 232.4% in the second 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. lifted its stake 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 boosted its holdings in Onto Innovation by 58.1% during the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock worth $54,000 after buying an additional 90 shares in the last quarter. Fifth Third Bancorp grew its position 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 buying an additional 84 shares during the period. Finally, Eastern Bank purchased a new position in Onto Innovation in the third quarter valued at about $65,000. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Onto Innovation Stock Down 1.1 %

ONTO opened at $161.04 on Friday. The business’s fifty day simple moving average is $191.73 and its 200 day simple moving average is $203.46. Onto Innovation Inc. has a 52 week low of $134.11 and a 52 week high of $238.93. The firm has a market cap of $7.95 billion, a P/E ratio of 43.64, a PEG ratio of 1.03 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. The business had revenue of $252.20 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.96 earnings per share. As a group, equities analysts expect that Onto Innovation Inc. will post 5.22 EPS for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation 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 completion of the sale, the senior vice president now owns 16,050 shares in the company, valued at $3,326,202. The trade was a 7.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Oppenheimer boosted 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. Benchmark reissued a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. Jefferies Financial Group cut their price target 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. Finally, Needham & Company LLC lowered their price objective on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock 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 company. According to MarketBeat.com, Onto Innovation currently has an average rating of “Moderate Buy” and an average target price of $254.29.

Onto Innovation 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.