Northern Trust Corp Has $79.92 Million Position in Onto Innovation Inc. (NYSE:ONTO)

Northern Trust Corp raised its stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 21.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 479,478 shares of the semiconductor company's stock after buying an additional 85,492 shares during the quarter. Northern Trust Corp owned 0.97% of Onto Innovation worth $79,915,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Onto Innovation during the fourth quarter worth $87,987,000. Artisan Partners Limited Partnership increased its position in Onto Innovation by 41.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company's stock worth $252,530,000 after purchasing an additional 444,860 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Onto Innovation by 72.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 870,250 shares of the semiconductor company's stock worth $145,045,000 after purchasing an additional 364,853 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Onto Innovation by 33.9% during the 4th quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company's stock valued at $234,344,000 after buying an additional 356,161 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Onto Innovation by 21.2% in the 4th quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company's stock valued at $258,883,000 after buying an additional 271,470 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on ONTO. Needham & Company LLC reiterated a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a research report on Thursday, February 27th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $135.00 price target (down previously from $250.00) on shares of Onto Innovation in a research report on Monday. Benchmark reissued a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Finally, Stifel Nicolaus decreased their target price on Onto Innovation from $200.00 to $180.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $203.75.

Onto Innovation Price Performance

NYSE:ONTO opened at $124.31 on Tuesday. Onto Innovation Inc. has a one year low of $98.21 and a one year high of $238.93. The company has a fifty day moving average price of $126.08 and a 200 day moving average price of $161.98. The stock has a market cap of $6.07 billion, a P/E ratio of 30.62, a PEG ratio of 0.89 and a beta of 1.46.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. As a group, equities research analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current year.

About Onto Innovation

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.