Great West Life Assurance Co. Can Buys 6,213 Shares of Onto Innovation Inc. (NYSE:ONTO)

Great West Life Assurance Co. Can grew its stake in Onto Innovation Inc. (NYSE:ONTOGet Rating) by 12.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,881 shares of the semiconductor company’s stock after purchasing an additional 6,213 shares during the quarter. Great West Life Assurance Co. Can owned approximately 0.11% of Onto Innovation worth $3,515,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its stake in shares of Onto Innovation by 55.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,666,438 shares of the semiconductor company’s stock valued at $116,217,000 after acquiring an additional 592,920 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Onto Innovation by 56.1% in the second quarter. Franklin Resources Inc. now owns 949,861 shares of the semiconductor company’s stock valued at $66,244,000 after acquiring an additional 341,519 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of Onto Innovation by 224.2% in the second quarter. Clearbridge Investments LLC now owns 193,637 shares of the semiconductor company’s stock valued at $13,504,000 after acquiring an additional 133,906 shares in the last quarter. Robeco Schweiz AG grew its stake in shares of Onto Innovation by 10.2% in the first quarter. Robeco Schweiz AG now owns 1,300,000 shares of the semiconductor company’s stock valued at $112,957,000 after acquiring an additional 120,000 shares in the last quarter. Finally, Divisar Capital Management LLC acquired a new position in shares of Onto Innovation in the second quarter valued at about $8,302,000. 93.59% of the stock is owned by institutional investors.

Onto Innovation Stock Up 3.7 %

Shares of Onto Innovation stock opened at $78.93 on Tuesday. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 19.30 and a beta of 1.40. Onto Innovation Inc. has a 12-month low of $56.02 and a 12-month high of $97.93. The firm’s 50-day moving average price is $75.03 and its two-hundred day moving average price is $73.14.

Onto Innovation (NYSE:ONTOGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The semiconductor company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.04. Onto Innovation had a net margin of 20.85% and a return on equity of 17.24%. The company had revenue of $254.25 million for the quarter, compared to the consensus estimate of $250.00 million. On average, sell-side analysts expect that Onto Innovation Inc. will post 5.27 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ONTO shares. StockNews.com upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, January 16th. Needham & Company LLC increased their price objective on shares of Onto Innovation from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, October 28th. DA Davidson reduced their price objective on shares of Onto Innovation to $90.00 in a research note on Tuesday, November 1st. Benchmark reduced their price objective on shares of Onto Innovation to $85.00 in a research note on Tuesday, November 1st. Finally, B. Riley reduced their price objective on shares of Onto Innovation from $110.00 to $95.00 in a research note on Friday, October 28th.

Onto Innovation Profile

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Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs macro defect inspection and 2D/3D optical metrology, lithography systems, and process control analytical software worldwide. It offers process and yield management solutions, and device packaging and test facilities through standalone systems for macro-defect inspection, packaging lithography, probe card test and analysis, and transparent and opaque thin film measurements; and process control software portfolio that includes solutions for standalone tools, groups of tools, and enterprise-or factory-wide suites.

Further Reading

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Institutional Ownership by Quarter for Onto Innovation (NYSE:ONTO)

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