Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its holdings in Onto Innovation Inc. (NYSE:ONTO) by 41.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 505,397 shares of the semiconductor company’s stock after selling 351,383 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Onto Innovation were worth $104,900,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ONTO. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Onto Innovation by 24.6% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 202,425 shares of the semiconductor company’s stock valued at $44,444,000 after purchasing an additional 39,955 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Onto Innovation by 98.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company’s stock valued at $1,218,000 after acquiring an additional 2,753 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position in Onto Innovation by 45.7% during the second quarter. Public Employees Retirement Association of Colorado now owns 105,267 shares of the semiconductor company’s stock valued at $23,112,000 after acquiring an additional 33,025 shares during the period. Swedbank AB increased its stake in Onto Innovation by 372.7% during the second quarter. Swedbank AB now owns 62,400 shares of the semiconductor company’s stock worth $13,701,000 after acquiring an additional 49,200 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Onto Innovation in the 3rd quarter worth about $14,539,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on ONTO. Needham & Company LLC dropped their target price on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Benchmark reissued a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, November 1st. Jefferies Financial Group reduced their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, Oppenheimer increased their price target on Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Onto Innovation presently has an average rating of “Moderate Buy” and an average price target of $254.29.

Insiders Place Their Bets

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total transaction of $264,231.00. Following the completion of the transaction, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at $3,326,202. This trade represents a 7.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is owned by company insiders.

Onto Innovation Trading Down 0.1 %

ONTO opened at $166.29 on Friday. Onto Innovation Inc. has a twelve month low of $134.11 and a twelve month high of $238.93. The firm has a market cap of $8.21 billion, a price-to-earnings ratio of 45.07, a PEG ratio of 1.07 and a beta of 1.37. The company has a fifty day simple moving average of $194.17 and a 200 day simple moving average of $204.80.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.03. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The company had revenue of $252.20 million during the quarter, compared to the consensus estimate of $250.85 million. During the same period last year, the firm earned $0.96 earnings per share. The company’s revenue was up 21.7% on a year-over-year basis. On average, analysts forecast that Onto Innovation Inc. will post 5.19 earnings per share for the current fiscal 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.