Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P decreased its holdings in Onto Innovation Inc. (NYSE:ONTO) by 16.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 222,689 shares of the semiconductor company’s stock after selling 43,311 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Onto Innovation were worth $37,115,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Onto Innovation by 52.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,435 shares of the semiconductor company’s stock valued at $298,000 after acquiring an additional 493 shares during the period. Cerity Partners LLC raised its position in Onto Innovation by 287.0% in the third quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock valued at $968,000 after purchasing an additional 3,458 shares during the period. Daiwa Securities Group Inc. acquired a new position in shares of Onto Innovation during the third quarter worth about $125,000. Bank of Montreal Can boosted its position in shares of Onto Innovation by 644.3% in the third quarter. Bank of Montreal Can now owns 50,782 shares of the semiconductor company’s stock worth $10,937,000 after buying an additional 43,959 shares during the period. Finally, Qsemble Capital Management LP purchased a new stake in shares of Onto Innovation in the third quarter worth about $306,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ONTO has been the topic of several analyst reports. StockNews.com upgraded Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Oppenheimer decreased their target price on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Benchmark reaffirmed a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Finally, 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. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Onto Innovation has a consensus rating of “Moderate Buy” and an average price target of $246.88.

Insiders Place Their Bets

In other Onto Innovation news, CEO Michael P. Plisinski sold 35,000 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 150,492 shares of the company’s stock, valued at approximately $32,986,341.48. This represents 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 the SEC website. Also, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction of $169,535.00. Following the completion of the transaction, the senior vice president now directly owns 15,223 shares of the company’s stock, valued at $3,120,715. This trade represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,827 shares of company stock valued at $18,182,185 in the last quarter. Insiders own 0.72% of the company’s stock.

Onto Innovation Price Performance

NYSE ONTO opened at $128.61 on Friday. The company has a market capitalization of $6.34 billion, a price-to-earnings ratio of 31.68, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a 12 month low of $121.47 and a 12 month high of $238.93. The company’s fifty day moving average price is $166.46 and its two-hundred day moving average price is $179.24.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. As a group, analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current year.

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.