Transamerica Financial Advisors Inc. Purchases New Shares in Onto Innovation Inc. (NYSE:ONTO)

Transamerica Financial Advisors Inc. acquired a new position in shares of Onto Innovation Inc. (NYSE:ONTO) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 20,119 shares of the semiconductor company’s stock, valued at approximately $4,176,000.

A number of other large investors have also recently made changes to their positions in ONTO. Vaughan Nelson Investment Management L.P. increased its stake in Onto Innovation by 24.6% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 202,425 shares of the semiconductor company’s stock worth $44,444,000 after purchasing an additional 39,955 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in Onto Innovation by 98.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company’s stock worth $1,218,000 after buying an additional 2,753 shares during the period. Public Employees Retirement Association of Colorado lifted its holdings in 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 valued at $23,112,000 after buying an additional 33,025 shares in the last quarter. Swedbank AB boosted its position in Onto Innovation by 372.7% in the 2nd quarter. Swedbank AB now owns 62,400 shares of the semiconductor company’s stock valued at $13,701,000 after buying an additional 49,200 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Onto Innovation in the 3rd quarter valued at about $14,539,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the 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 transaction, the senior vice president now owns 16,050 shares in the company, valued at approximately $3,326,202. This represents a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ONTO shares. Jefferies Financial Group dropped their price target on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock 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. Needham & Company LLC reduced their price target on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, Benchmark reiterated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $254.29.

Onto Innovation Stock Up 1.3 %

Shares of Onto Innovation stock traded up $2.22 on Tuesday, reaching $167.41. 101,522 shares of the stock were exchanged, compared to its average volume of 591,890. The business has a 50 day moving average price of $193.69 and a two-hundred day moving average price of $204.49. The firm has a market capitalization of $8.27 billion, a price-to-earnings ratio of 44.77, a PEG ratio of 1.06 and a beta of 1.37. Onto Innovation Inc. has a twelve month low of $134.11 and a twelve month 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 (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 during the quarter, compared to the consensus estimate of $250.85 million. During the same period in the previous year, the firm posted $0.96 earnings per share. The firm’s quarterly revenue was up 21.7% on a year-over-year basis. Research analysts forecast that Onto Innovation Inc. will post 5.22 EPS for the current year.

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.