Glenmede Trust Co. NA Acquires 37,966 Shares of Onto Innovation Inc. (NYSE:ONTO)

Glenmede Trust Co. NA boosted its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 250.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 53,097 shares of the semiconductor company’s stock after purchasing an additional 37,966 shares during the period. Glenmede Trust Co. NA’s holdings in Onto Innovation were worth $11,021,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ONTO. Millennium Management LLC raised its stake in shares of Onto Innovation by 304.9% in the second quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company’s stock valued at $98,329,000 after acquiring an additional 337,250 shares during the period. Congress Asset Management Co. lifted its stake in Onto Innovation by 38.1% in the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after purchasing an additional 295,869 shares during the last quarter. Citigroup Inc. boosted its position in shares of Onto Innovation by 811.7% during the third quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company’s stock valued at $66,236,000 after buying an additional 284,115 shares during the period. Natixis Advisors LLC grew its stake in shares of Onto Innovation by 379.8% during the second quarter. Natixis Advisors LLC now owns 245,144 shares of the semiconductor company’s stock valued at $53,824,000 after buying an additional 194,056 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Onto Innovation by 28.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock worth $188,115,000 after buying an additional 189,769 shares during the period. 98.35% of the stock is owned by institutional investors.

Onto Innovation Stock Performance

NYSE ONTO opened at $164.18 on Friday. Onto Innovation Inc. has a one year low of $134.11 and a one year high of $238.93. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of 44.49, a price-to-earnings-growth ratio of 1.03 and a beta of 1.37. The company’s 50-day simple moving average is $191.02 and its two-hundred day simple moving average is $203.06.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.03. The company had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. Onto Innovation’s revenue was up 21.7% compared to the same quarter last year. During the same period last year, the company posted $0.96 earnings per share. Equities analysts expect that Onto Innovation Inc. will post 5.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ONTO has been the subject of a number of recent analyst reports. Needham & Company LLC dropped their price objective on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a report on Friday, November 1st. Jefferies Financial Group cut their price target on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Oppenheimer lifted their price objective on shares of Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Benchmark restated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $254.29.

Insider Transactions at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total value of $264,231.00. Following the completion of the transaction, the senior vice president now directly owns 16,050 shares in the company, valued at approximately $3,326,202. The trade was a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.72% of the company’s stock.

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.