Truist Financial Corp Invests $625,000 in Onto Innovation Inc. $ONTO

Truist Financial Corp purchased a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,836 shares of the semiconductor company’s stock, valued at approximately $625,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ONTO. EFG Asset Management North America Corp. purchased a new position in shares of Onto Innovation during the 3rd quarter valued at $1,549,000. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Onto Innovation by 36.6% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 51,176 shares of the semiconductor company’s stock valued at $6,613,000 after acquiring an additional 13,714 shares during the period. Liberty One Investment Management LLC bought a new stake in Onto Innovation during the third quarter valued at about $1,408,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Onto Innovation in the second quarter valued at about $1,997,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Onto Innovation by 8.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 109,177 shares of the semiconductor company’s stock worth $14,983,000 after acquiring an additional 8,145 shares during the period. 98.35% of the stock is owned by institutional investors.

Onto Innovation Price Performance

Shares of NYSE ONTO opened at $222.34 on Thursday. Onto Innovation Inc. has a 1-year low of $85.88 and a 1-year high of $229.87. The business’s 50 day moving average is $184.17 and its two-hundred day moving average is $143.94. The stock has a market capitalization of $10.90 billion, a P/E ratio of 62.81, a PEG ratio of 1.20 and a beta of 1.50.

Wall Street Analysts Forecast Growth

ONTO has been the topic of several recent analyst reports. Stifel Nicolaus lifted their target price on Onto Innovation from $126.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, January 14th. Jefferies Financial Group lifted their price objective on shares of Onto Innovation from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Cantor Fitzgerald restated a “neutral” rating and set a $170.00 target price on shares of Onto Innovation in a research report on Tuesday, December 16th. B. Riley Financial raised their target price on shares of Onto Innovation from $180.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Finally, Needham & Company LLC boosted their price target on shares of Onto Innovation from $200.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Onto Innovation has an average rating of “Moderate Buy” and an average target price of $193.75.

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.