Cerity Partners LLC Acquires 3,458 Shares of Onto Innovation Inc. (NYSE:ONTO)

Cerity Partners LLC lifted its holdings in Onto Innovation Inc. (NYSE:ONTO) by 287.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,663 shares of the semiconductor company’s stock after purchasing an additional 3,458 shares during the period. Cerity Partners LLC’s holdings in Onto Innovation were worth $968,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Quarry LP grew its holdings in Onto Innovation by 232.4% during the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 79 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 108 shares during the last quarter. LGT Financial Advisors LLC grew its stake in Onto Innovation by 58.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 90 shares during the last quarter. Fifth Third Bancorp raised its holdings in Onto Innovation by 40.2% in the 2nd quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock worth $64,000 after acquiring an additional 84 shares during the period. Finally, Eastern Bank acquired a new position in Onto Innovation during the 3rd quarter worth $65,000. 98.35% of the stock is currently owned by institutional investors.

Onto Innovation Trading Down 1.4 %

Shares of ONTO stock opened at $170.13 on Thursday. The company has a market capitalization of $8.40 billion, a P/E ratio of 46.11, a P/E/G ratio of 1.09 and a beta of 1.30. Onto Innovation Inc. has a 12 month low of $134.11 and a 12 month high of $238.93. The stock has a 50 day moving average of $189.22 and a two-hundred day moving average of $201.71.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.31 by $0.03. The firm had revenue of $252.20 million during the quarter, compared to analysts’ expectations of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. Onto Innovation’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same period last year, the business earned $0.96 earnings per share. Sell-side analysts predict that Onto Innovation Inc. will post 5.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ONTO has been the topic of several research analyst reports. Needham & Company LLC lowered their price target on 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 lowered their target price on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Benchmark reiterated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, November 1st. Finally, Oppenheimer raised their price objective 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. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $254.29.

Onto Innovation Company 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.