Geode Capital Management LLC raised its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 834,345 shares of the semiconductor company's stock after purchasing an additional 13,405 shares during the period. Geode Capital Management LLC owned 1.69% of Onto Innovation worth $173,401,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the stock. Quarry LP grew its stake in shares of Onto Innovation by 232.4% during the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company's stock valued at $25,000 after buying an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in 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 acquiring an additional 108 shares during the last quarter. LGT Financial Advisors LLC grew its position 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 acquiring an additional 90 shares during the period. Fifth Third Bancorp increased its stake 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 last quarter. Finally, Eastern Bank purchased a new position in shares of Onto Innovation in the 3rd quarter worth about $65,000. Hedge funds and other institutional investors own 98.35% of the company's stock.
Shares of NYSE:ONTO opened at $167.09 on Monday. The company has a market capitalization of $8.25 billion, a price-to-earnings ratio of 45.28, a price-to-earnings-growth ratio of 1.07 and a beta of 1.30. The company has a 50 day moving average of $183.14 and a two-hundred day moving average of $198.41. Onto Innovation Inc. has a 52-week low of $134.11 and a 52-week high of $238.93.
Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The business had revenue of $252.20 million during the quarter, compared to analyst estimates of $250.85 million. During the same period last year, the business earned $0.96 EPS. The business's revenue was up 21.7% on a year-over-year basis. On average, equities analysts anticipate that Onto Innovation Inc. will post 5.22 earnings per share for the current year.
A number of analysts have recently issued reports on ONTO shares. Oppenheimer boosted 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. Needham & Company LLC decreased their price objective on shares of 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 dropped their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a research report on Friday, November 1st. Finally, Benchmark restated a "buy" rating and set a $230.00 target price 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 company. According to MarketBeat.com, Onto Innovation has an average rating of "Moderate Buy" and a consensus target price of $254.29.
Read Our Latest Analysis on 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.
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