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

Glenmede Trust Co. NA increased its position in Onto Innovation Inc. (NYSE:ONTO) by 250.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,097 shares of the semiconductor company’s stock after acquiring an additional 37,966 shares during the period. Glenmede Trust Co. NA owned about 0.11% of Onto Innovation worth $11,021,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ONTO. Bridgewater Associates LP grew its position in Onto Innovation by 28.1% during the third quarter. Bridgewater Associates LP now owns 43,345 shares of the semiconductor company’s stock valued at $8,997,000 after buying an additional 9,495 shares during the period. Townsquare Capital LLC grew its position in shares of Onto Innovation by 7.1% during the 3rd quarter. Townsquare Capital LLC now owns 11,878 shares of the semiconductor company’s stock valued at $2,465,000 after acquiring an additional 787 shares during the period. Transamerica Financial Advisors Inc. purchased a new stake in shares of Onto Innovation in the 3rd quarter worth $4,176,000. Quantbot Technologies LP bought a new position in Onto Innovation in the 3rd quarter worth $4,156,000. Finally, FMR LLC lifted its position in Onto Innovation by 20.5% during the third quarter. FMR LLC now owns 825,682 shares of the semiconductor company’s stock valued at $171,379,000 after purchasing an additional 140,659 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insider Activity at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total transaction of $264,231.00. Following the sale, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at $3,326,202. This represents a 7.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Onto Innovation Price Performance

Onto Innovation stock opened at $164.18 on Friday. Onto Innovation Inc. has a 1 year low of $134.11 and a 1 year high of $238.93. The firm’s 50 day moving average price is $191.02 and its 200-day moving average price is $203.06. The stock has a market cap of $8.11 billion, a P/E ratio of 44.49, a PEG ratio of 1.03 and a beta of 1.37.

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, 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 company 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. Onto Innovation’s revenue for the quarter was up 21.7% compared to the same quarter last year. As a group, equities analysts expect that Onto Innovation Inc. will post 5.22 EPS for the current year.

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.