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

Loomis Sayles & Co. L P decreased its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 12.3% in the 3rd quarter, according to its most recent 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 quarter. Loomis Sayles & Co. L P owned approximately 0.54% of Onto Innovation worth $55,211,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP grew its position in shares of Onto Innovation by 232.4% in the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 79 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 108 shares in the last quarter. LGT Financial Advisors LLC increased its position in Onto Innovation by 58.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock worth $54,000 after buying an additional 90 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Onto Innovation by 40.2% during the second quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock worth $64,000 after buying an additional 84 shares in the last quarter. Finally, Eastern Bank bought a new stake in shares of Onto Innovation in the third quarter valued at about $65,000. 98.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Onto Innovation Stock Performance

Shares of ONTO opened at $165.19 on Tuesday. The stock has a market capitalization of $8.16 billion, a price-to-earnings ratio of 44.77, a PEG 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 stock has a fifty day moving average of $193.69 and a 200-day moving average of $204.49.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The firm had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. During the same period last year, the firm posted $0.96 earnings per share. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. As a group, equities analysts forecast that Onto Innovation Inc. will post 5.22 EPS for the current year.

Insiders Place Their Bets

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the stock in a transaction that occurred on 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 owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. This represents a 7.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.72% of the company’s stock.

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.