Hilltop Holdings Inc. Acquires Shares of 1,217 Onto Innovation Inc. (NYSE:ONTO)

Hilltop Holdings Inc. bought a new stake in Onto Innovation Inc. (NYSE:ONTO) during the 3rd quarter, HoldingsChannel reports. The firm bought 1,217 shares of the semiconductor company’s stock, valued at approximately $253,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vaughan Nelson Investment Management L.P. boosted its holdings in Onto Innovation by 24.6% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 202,425 shares of the semiconductor company’s stock worth $44,444,000 after buying an additional 39,955 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Onto Innovation by 98.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company’s stock valued at $1,218,000 after acquiring an additional 2,753 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of Onto Innovation by 45.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 105,267 shares of the semiconductor company’s stock worth $23,112,000 after acquiring an additional 33,025 shares during the last quarter. Swedbank AB increased its position in shares of Onto Innovation by 372.7% during the second quarter. Swedbank AB now owns 62,400 shares of the semiconductor company’s stock worth $13,701,000 after purchasing an additional 49,200 shares in the last quarter. Finally, Cerity Partners LLC raised its stake in Onto Innovation by 287.0% in the 3rd quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock valued at $968,000 after purchasing an additional 3,458 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on ONTO. Oppenheimer lifted their target price on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Needham & Company LLC lowered their price target on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research report 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 note on Friday, November 1st. Finally, Benchmark reissued a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Onto Innovation currently has an average rating of “Moderate Buy” and an average target price of $254.29.

Onto Innovation Trading Up 2.3 %

Onto Innovation stock opened at $168.84 on Friday. The company has a 50-day moving average price of $187.13 and a 200 day moving average price of $200.84. Onto Innovation Inc. has a 12-month low of $134.11 and a 12-month high of $238.93. The stock has a market cap of $8.34 billion, a P/E ratio of 45.76, a PEG ratio of 1.09 and a beta of 1.30.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $250.85 million. During the same quarter last year, the firm earned $0.96 EPS. The business’s revenue was up 21.7% compared to the same quarter last year. As a group, analysts forecast that Onto Innovation Inc. will post 5.22 EPS for the current year.

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.