Mutual of America Capital Management LLC Sells 10,799 Shares of Onto Innovation Inc. (NYSE:ONTO)

Mutual of America Capital Management LLC lessened its stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 19.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,055 shares of the semiconductor company's stock after selling 10,799 shares during the period. Mutual of America Capital Management LLC owned about 0.09% of Onto Innovation worth $9,144,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ONTO. Vaughan Nelson Investment Management L.P. raised its stake in Onto Innovation by 24.6% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 202,425 shares of the semiconductor company's stock worth $44,444,000 after buying an additional 39,955 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Onto Innovation by 98.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company's stock valued at $1,218,000 after purchasing an additional 2,753 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in shares of Onto Innovation by 45.7% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 105,267 shares of the semiconductor company's stock valued at $23,112,000 after buying an additional 33,025 shares during the period. Bessemer Group Inc. boosted its position in Onto Innovation by 7.0% in the first quarter. Bessemer Group Inc. now owns 119,890 shares of the semiconductor company's stock worth $21,709,000 after purchasing an additional 7,815 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in Onto Innovation by 27.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 17,789 shares of the semiconductor company's stock worth $3,221,000 after purchasing an additional 3,800 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

Onto Innovation Trading Up 2.0 %

Shares of NYSE ONTO traded up $3.12 during mid-day trading on Monday, reaching $161.66. The company had a trading volume of 978,766 shares, compared to its average volume of 587,617. Onto Innovation Inc. has a 52 week low of $133.67 and a 52 week high of $238.93. The business's 50-day moving average is $196.76 and its 200-day moving average is $206.23. The stock has a market cap of $7.98 billion, a price-to-earnings ratio of 42.96, a price-to-earnings-growth ratio of 1.02 and a beta of 1.37.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $0.03. The business had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The company's quarterly revenue was up 21.7% compared to the same quarter last year. During the same period last year, the company posted $0.96 earnings per share. As a group, equities research analysts forecast that Onto Innovation Inc. will post 5.19 earnings per share for the current year.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total transaction of $264,231.00. Following the transaction, the senior vice president now owns 16,050 shares of the company's stock, valued at approximately $3,326,202. This trade represents a 7.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

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.