MetLife Investment Management LLC Raises Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

MetLife Investment Management LLC raised its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 8.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,388 shares of the semiconductor company's stock after buying an additional 2,298 shares during the period. MetLife Investment Management LLC owned about 0.06% of Onto Innovation worth $4,731,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ONTO. Kestra Investment Management LLC bought a new stake in Onto Innovation during the fourth quarter valued at about $26,000. Mather Group LLC. increased its stake in Onto Innovation by 209.4% in the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company's stock worth $27,000 after buying an additional 111 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Onto Innovation by 532.4% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company's stock valued at $39,000 after acquiring an additional 197 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Onto Innovation during the fourth quarter worth about $43,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Onto Innovation during the 4th quarter valued at approximately $47,000. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $250.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. StockNews.com upgraded Onto Innovation from a "sell" rating to a "hold" rating in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Oppenheimer cut their target price on Onto Innovation from $240.00 to $150.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Finally, Benchmark reissued a "buy" rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Onto Innovation currently has a consensus rating of "Moderate Buy" and an average price target of $218.13.

Onto Innovation Stock Performance

Onto Innovation stock traded down $1.03 during mid-day trading on Monday, reaching $124.56. 783,589 shares of the company were exchanged, compared to its average volume of 800,254. The firm has a market cap of $6.08 billion, a P/E ratio of 30.68, a PEG ratio of 0.89 and a beta of 1.46. Onto Innovation Inc. has a 12-month low of $98.21 and a 12-month high of $238.93. The business has a fifty day moving average of $130.48 and a 200 day moving average of $165.69.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced 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%. Sell-side analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current 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.