Northwestern Mutual Wealth Management Co. Boosts Holdings in Onto Innovation Inc. (NYSE:ONTO)

Northwestern Mutual Wealth Management Co. raised its holdings in Onto Innovation Inc. (NYSE:ONTOFree Report) by 675.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124 shares of the semiconductor company’s stock after buying an additional 108 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Onto Innovation were worth $27,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. grew 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 valued at $44,444,000 after buying an additional 39,955 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Onto Innovation by 98.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company’s stock worth $1,218,000 after purchasing an additional 2,753 shares during the period. Nordea Investment Management AB grew its holdings in shares of Onto Innovation by 17.8% during the 1st quarter. Nordea Investment Management AB now owns 102,103 shares of the semiconductor company’s stock worth $18,586,000 after purchasing an additional 15,451 shares during the period. Public Employees Retirement Association of Colorado grew its holdings in shares of Onto Innovation by 45.7% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 105,267 shares of the semiconductor company’s stock worth $23,112,000 after purchasing an additional 33,025 shares during the period. Finally, Norden Group LLC purchased a new stake in shares of Onto Innovation during the 1st quarter worth about $654,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Up 4.5 %

Shares of ONTO opened at $217.79 on Monday. The business’s 50 day moving average is $199.85 and its two-hundred day moving average is $204.83. Onto Innovation Inc. has a 52-week low of $108.98 and a 52-week high of $238.93. The firm has a market cap of $10.73 billion, a price-to-earnings ratio of 77.51, a PEG ratio of 1.36 and a beta of 1.36.

Onto Innovation (NYSE:ONTOGet Free Report) last announced its earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.12. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The company had revenue of $242.33 million for the quarter, compared to analyst estimates of $235.43 million. During the same period in the prior year, the company posted $0.79 EPS. Onto Innovation’s quarterly revenue was up 27.1% on a year-over-year basis. On average, equities analysts expect that Onto Innovation Inc. will post 5.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ONTO shares. Benchmark reiterated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a report on Friday, August 9th. Needham & Company LLC upgraded Onto Innovation from a “hold” rating to a “buy” rating in a report on Monday, August 19th. Oppenheimer upped their price target on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. B. Riley upped their price target on Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, Stifel Nicolaus upped their price target on Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 15th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $261.67.

Check Out Our Latest Stock Report on ONTO

Insider Activity at Onto Innovation

In related 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 approximately $3,326,202. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Onto Innovation Company Profile

(Free Report)

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.

See Also

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

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