Loomis Sayles & Co. L P Has $55.21 Million Stake in Onto Innovation Inc. (NYSE:ONTO)

Loomis Sayles & Co. L P lowered its position in Onto Innovation Inc. (NYSE:ONTO) by 12.3% in the 3rd quarter, according to the company in its most recent Form 13F 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’s holdings in Onto Innovation were worth $55,211,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Millennium Management LLC increased its stake in shares of Onto Innovation by 304.9% during the 2nd quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company’s stock worth $98,329,000 after purchasing an additional 337,250 shares during the last quarter. Congress Asset Management Co. increased its position in 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 buying an additional 295,869 shares during the last quarter. Citigroup Inc. raised its stake in shares of Onto Innovation by 811.7% in the third quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company’s stock valued at $66,236,000 after buying an additional 284,115 shares during the period. Natixis Advisors LLC grew its stake in shares of Onto Innovation by 379.8% during the 2nd quarter. Natixis Advisors LLC now owns 245,144 shares of the semiconductor company’s stock worth $53,824,000 after acquiring an additional 194,056 shares during the period. Finally, Massachusetts Financial Services Co. MA increased 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 worth $188,115,000 after acquiring an additional 189,769 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insiders Place Their Bets

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the company’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 completion of the sale, the senior vice president now directly owns 16,050 shares in the company, valued at $3,326,202. This represents a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ONTO has been the subject of a number of research reports. Needham & Company LLC cut their target price on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Oppenheimer raised their price objective on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Benchmark reissued a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. Finally, Jefferies Financial Group cut their price target on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $254.29.

Onto Innovation Stock Performance

Shares of NYSE:ONTO opened at $165.19 on Tuesday. The firm has a market capitalization of $8.16 billion, a PE ratio of 44.77, a price-to-earnings-growth ratio of 1.06 and a beta of 1.37. Onto Innovation Inc. has a 52-week low of $134.11 and a 52-week high of $238.93. The firm has a fifty day moving average of $193.69 and a 200 day moving average of $204.49.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 EPS. On average, sell-side analysts forecast that Onto Innovation Inc. will post 5.22 EPS for the current fiscal year.

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.