Barclays PLC Buys 201,640 Shares of Onto Innovation Inc. (NYSE:ONTO)

Barclays PLC boosted its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 1,296.7% during the third quarter, Holdings Channel.com reports. The fund owned 217,190 shares of the semiconductor company’s stock after acquiring an additional 201,640 shares during the quarter. Barclays PLC’s holdings in Onto Innovation were worth $45,079,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Onto Innovation by 2.8% in the third quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company’s stock worth $305,107,000 after purchasing an additional 39,367 shares in the last quarter. Congress Asset Management Co. increased its stake in Onto Innovation by 38.1% in the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after buying an additional 295,869 shares in the last quarter. Geneva Capital Management LLC raised its holdings in Onto Innovation by 2.6% during the third quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company’s stock valued at $195,032,000 after acquiring an additional 23,628 shares during the period. Massachusetts Financial Services Co. MA lifted its position 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 valued at $188,115,000 after acquiring an additional 189,769 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Onto Innovation by 20.5% in the third quarter. FMR LLC now owns 825,682 shares of the semiconductor company’s stock worth $171,379,000 after acquiring an additional 140,659 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Jefferies Financial Group decreased their target price on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock 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. Oppenheimer upped their target price on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC reduced their price target on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $254.29.

Onto Innovation Stock Performance

Shares of ONTO opened at $166.45 on Friday. The stock has a market capitalization of $8.22 billion, a PE ratio of 45.10, a P/E/G ratio of 1.08 and a beta of 1.30. The company’s fifty day moving average is $184.78 and its 200 day moving average is $199.51. Onto Innovation Inc. has a fifty-two week low of $134.11 and a fifty-two week high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share 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 firm had revenue of $252.20 million for the quarter, compared to the consensus estimate of $250.85 million. During the same period in the previous year, the firm posted $0.96 EPS. The business’s quarterly revenue was up 21.7% on a year-over-year basis. As a group, research analysts forecast that Onto Innovation Inc. will post 5.22 earnings per share 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.