Massachusetts Financial Services Co. MA Has $104.90 Million Stake in Onto Innovation Inc. (NYSE:ONTO)

Massachusetts Financial Services Co. MA lessened its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 41.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 505,397 shares of the semiconductor company's stock after selling 351,383 shares during the period. Massachusetts Financial Services Co. MA owned about 1.02% of Onto Innovation worth $104,900,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ONTO. Landscape Capital Management L.L.C. acquired a new position in Onto Innovation in the third quarter valued at about $396,000. Value Aligned Research Advisors LLC boosted its position in shares of Onto Innovation by 12.0% during the 3rd quarter. Value Aligned Research Advisors LLC now owns 243,027 shares of the semiconductor company's stock worth $50,443,000 after acquiring an additional 26,013 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Onto Innovation by 9.6% in the third quarter. Advisors Asset Management Inc. now owns 6,391 shares of the semiconductor company's stock valued at $1,327,000 after acquiring an additional 562 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Onto Innovation by 52.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,435 shares of the semiconductor company's stock valued at $298,000 after purchasing an additional 493 shares in the last quarter. Finally, Braun Stacey Associates Inc. bought a new stake in Onto Innovation during the third quarter worth $22,949,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Stock Down 0.1 %

Shares of NYSE ONTO traded down $0.21 during trading on Friday, reaching $166.29. The company had a trading volume of 967,127 shares, compared to its average volume of 898,519. The stock has a market cap of $8.21 billion, a P/E ratio of 45.07, a PEG ratio of 1.07 and a beta of 1.37. The company's fifty day moving average price is $194.17 and its 200-day moving average price is $204.79. Onto Innovation Inc. has a 12 month low of $134.11 and a 12 month high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its 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. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The business had revenue of $252.20 million for the quarter, compared to analysts' expectations of $250.85 million. During the same period in the prior year, the business posted $0.96 earnings per share. The firm's revenue was up 21.7% on a year-over-year basis. As a group, equities analysts predict that Onto Innovation Inc. will post 5.19 earnings per share for the current year.

Analysts Set New Price Targets

ONTO has been the topic of several recent analyst reports. Oppenheimer lifted their price target on Onto Innovation from $260.00 to $275.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Jefferies Financial Group lowered their target price 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. Benchmark reaffirmed a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, November 1st. Finally, 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 research note on Friday, November 1st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $254.29.

Insider Transactions at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total value of $264,231.00. Following the completion of the sale, the senior vice president now directly owns 16,050 shares in the company, valued at approximately $3,326,202. The trade was a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

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.