Onto Innovation Inc. $ONTO Shares Sold by Zions Bancorporation National Association UT

Zions Bancorporation National Association UT lessened its holdings in Onto Innovation Inc. (NYSE:ONTO) by 12.7% during the third quarter, HoldingsChannel.com reports. The fund owned 18,435 shares of the semiconductor company’s stock after selling 2,686 shares during the quarter. Zions Bancorporation National Association UT’s holdings in Onto Innovation were worth $2,382,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. NewEdge Advisors LLC lifted its stake in shares of Onto Innovation by 312.5% during the first quarter. NewEdge Advisors LLC now owns 4,121 shares of the semiconductor company’s stock worth $500,000 after purchasing an additional 3,122 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Onto Innovation by 76.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 482,256 shares of the semiconductor company’s stock valued at $58,517,000 after purchasing an additional 208,907 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Onto Innovation by 8.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 163,259 shares of the semiconductor company’s stock worth $19,810,000 after buying an additional 13,175 shares in the last quarter. CWM LLC boosted its position in Onto Innovation by 231.7% in the 2nd quarter. CWM LLC now owns 3,334 shares of the semiconductor company’s stock valued at $337,000 after buying an additional 2,329 shares during the last quarter. Finally, TD Asset Management Inc purchased a new stake in shares of Onto Innovation during the second quarter worth about $2,078,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Stock Performance

ONTO stock opened at $216.99 on Tuesday. The stock’s fifty day moving average is $187.59 and its two-hundred day moving average is $146.70. The stock has a market capitalization of $10.63 billion, a price-to-earnings ratio of 61.30, a PEG ratio of 1.20 and a beta of 1.49. Onto Innovation Inc. has a 1 year low of $85.88 and a 1 year high of $229.87.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ONTO. B. Riley Financial raised their price objective on Onto Innovation from $180.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Stifel Nicolaus raised their price objective 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. Evercore increased their price target on shares of Onto Innovation from $115.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Onto Innovation in a report on Thursday, January 22nd. Finally, Needham & Company LLC boosted their price target on Onto Innovation from $200.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.88.

Onto Innovation Profile

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.