Massachusetts Financial Services Co. MA Purchases 364,853 Shares of Onto Innovation Inc. (NYSE:ONTO)

Massachusetts Financial Services Co. MA grew its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 72.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 870,250 shares of the semiconductor company's stock after purchasing an additional 364,853 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.76% of Onto Innovation worth $145,045,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. UMB Bank n.a. grew its stake in Onto Innovation by 22.8% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company's stock valued at $66,000 after acquiring an additional 74 shares during the period. Bridge City Capital LLC lifted its position in Onto Innovation by 1.0% during the 4th quarter. Bridge City Capital LLC now owns 8,165 shares of the semiconductor company's stock worth $1,361,000 after buying an additional 78 shares in the last quarter. CIBC Asset Management Inc boosted its position in Onto Innovation by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company's stock valued at $256,000 after purchasing an additional 81 shares during the last quarter. Hunter Perkins Capital Management LLC grew its stake in Onto Innovation by 3.9% in the fourth quarter. Hunter Perkins Capital Management LLC now owns 2,415 shares of the semiconductor company's stock valued at $403,000 after purchasing an additional 90 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. increased its position in shares of Onto Innovation by 9.5% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 1,150 shares of the semiconductor company's stock worth $191,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Thursday, February 27th. Cantor Fitzgerald reissued an "overweight" rating and issued a $250.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Needham & Company LLC reaffirmed a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Oppenheimer reduced their price target on Onto Innovation from $275.00 to $240.00 and set an "outperform" rating for the company in a report on Thursday, February 20th. Finally, Benchmark restated a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Onto Innovation has a consensus rating of "Moderate Buy" and a consensus target price of $231.88.

Onto Innovation Trading Down 13.2 %

NYSE ONTO traded down $17.60 during trading on Thursday, reaching $115.77. The company's stock had a trading volume of 642,051 shares, compared to its average volume of 773,793. The firm has a 50 day moving average price of $146.83 and a 200 day moving average price of $173.50. Onto Innovation Inc. has a 12 month low of $98.21 and a 12 month high of $238.93. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 28.55, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. On average, equities analysts forecast that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Insider Activity at Onto Innovation

In other Onto Innovation news, CEO Michael P. Plisinski sold 35,000 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the completion of the transaction, the chief executive officer now directly owns 150,492 shares in the company, valued at $32,986,341.48. The trade was a 18.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Srinivas Vedula sold 827 shares of the firm's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the sale, the senior vice president now directly owns 15,223 shares in the company, valued at approximately $3,120,715. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 85,827 shares of company stock valued at $18,182,185 over the last quarter. 0.72% of the stock is owned by corporate insiders.

About Onto Innovation

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.