Loomis Sayles & Co. L P Sells 37,206 Shares of Onto Innovation Inc. (NYSE:ONTO)

Loomis Sayles & Co. L P reduced its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 12.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 266,000 shares of the semiconductor company's stock after selling 37,206 shares during the period. Loomis Sayles & Co. L P owned about 0.54% of Onto Innovation worth $55,211,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Millennium Management LLC grew its stake in Onto Innovation by 304.9% in the 2nd quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company's stock valued at $98,329,000 after buying an additional 337,250 shares during the last quarter. Congress Asset Management Co. increased its stake in shares of Onto Innovation by 38.1% in the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company's stock worth $222,670,000 after purchasing an additional 295,869 shares during the period. Citigroup Inc. boosted its stake in Onto Innovation by 811.7% during the 3rd quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company's stock valued at $66,236,000 after purchasing an additional 284,115 shares during the period. Natixis Advisors LLC boosted its stake in Onto Innovation by 379.8% during the 2nd quarter. Natixis Advisors LLC now owns 245,144 shares of the semiconductor company's stock valued at $53,824,000 after purchasing an additional 194,056 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in Onto Innovation by 28.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company's stock valued at $188,115,000 after buying an additional 189,769 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Stock Down 1.4 %

Shares of ONTO stock traded down $2.29 during trading on Tuesday, reaching $162.90. The company's stock had a trading volume of 633,466 shares, compared to its average volume of 594,437. The company has a market cap of $8.05 billion, a price-to-earnings ratio of 44.15, a price-to-earnings-growth ratio of 1.06 and a beta of 1.37. Onto Innovation Inc. has a one year low of $134.11 and a one year high of $238.93. The business has a fifty day moving average price of $193.11 and a 200-day moving average price of $204.06.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.31 by $0.03. The firm had revenue of $252.20 million during the quarter, compared to analysts' expectations of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The business's quarterly revenue was up 21.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.96 earnings per share. Research analysts anticipate that Onto Innovation Inc. will post 5.22 EPS for the current year.

Insider Buying and Selling at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total transaction of $264,231.00. Following the completion of the sale, the senior vice president now owns 16,050 shares in the company, valued at $3,326,202. The trade was a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Needham & Company LLC lowered their price objective on Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. Oppenheimer boosted their price target on shares of Onto Innovation from $260.00 to $275.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Benchmark reaffirmed a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, November 1st. Finally, Jefferies Financial Group lowered their target price on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $254.29.

Onto Innovation 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.