Rhumbline Advisers Has $17.26 Million Position in Onto Innovation Inc. $ONTO

Rhumbline Advisers cut its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 6.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,540 shares of the semiconductor company’s stock after selling 9,053 shares during the period. Rhumbline Advisers’ holdings in Onto Innovation were worth $17,256,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Paradigm Capital Management Inc. NY raised its stake in shares of Onto Innovation by 0.7% during the second quarter. Paradigm Capital Management Inc. NY now owns 1,112,839 shares of the semiconductor company’s stock valued at $112,319,000 after acquiring an additional 7,900 shares during the last quarter. Geneva Capital Management LLC grew its stake in shares of Onto Innovation by 6.5% in the second quarter. Geneva Capital Management LLC now owns 1,081,662 shares of the semiconductor company’s stock worth $109,172,000 after purchasing an additional 66,339 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in Onto Innovation by 1,510.2% in the second quarter. Qube Research & Technologies Ltd now owns 901,180 shares of the semiconductor company’s stock valued at $90,956,000 after purchasing an additional 845,213 shares during the period. Voya Investment Management LLC increased its holdings in Onto Innovation by 4,494.6% in the third quarter. Voya Investment Management LLC now owns 868,607 shares of the semiconductor company’s stock valued at $111,974,000 after purchasing an additional 849,702 shares during the period. Finally, Norges Bank bought a new position in Onto Innovation during the 2nd quarter worth $71,961,000. 98.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ONTO shares. Needham & Company LLC upped their price target on Onto Innovation from $200.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Jefferies Financial Group raised their price objective on Onto Innovation from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. B. Riley Financial upped their target price on Onto Innovation from $180.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Zacks Research raised shares of Onto Innovation from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 31st. Finally, Stifel Nicolaus raised their price target on shares of Onto Innovation from $126.00 to $180.00 and gave the stock a “hold” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $206.88.

Onto Innovation Price Performance

Shares of Onto Innovation stock opened at $220.44 on Wednesday. The stock’s 50-day moving average is $188.75 and its 200 day moving average is $147.59. Onto Innovation Inc. has a one year low of $85.88 and a one year high of $229.87. The firm has a market cap of $10.80 billion, a price-to-earnings ratio of 62.27, a PEG ratio of 1.20 and a beta of 1.50.

About Onto Innovation

Onto Innovation (NYSE:ONTO) is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company’s solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.