Loomis Sayles & Co. L P Cuts Stake in Onto Innovation Inc. (NYSE:ONTO)

Loomis Sayles & Co. L P lessened its position in Onto Innovation Inc. (NYSE:ONTO) by 16.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 222,689 shares of the semiconductor company’s stock after selling 43,311 shares during the period. Loomis Sayles & Co. L P owned approximately 0.45% of Onto Innovation worth $37,115,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kestra Investment Management LLC acquired a new stake in Onto Innovation in the fourth quarter valued at about $26,000. Mather Group LLC. lifted its holdings in shares of Onto Innovation by 209.4% in the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 111 shares during the period. Versant Capital Management Inc boosted its stake in shares of Onto Innovation by 532.4% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 197 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Onto Innovation during the fourth quarter worth $43,000. Finally, Berbice Capital Management LLC purchased a new position in Onto Innovation in the fourth quarter worth $50,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ONTO shares. Benchmark restated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Needham & Company LLC restated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Oppenheimer reduced their price target on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Stifel Nicolaus lowered their price target on Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $246.88.

Onto Innovation Stock Down 3.4 %

NYSE ONTO opened at $128.61 on Friday. Onto Innovation Inc. has a fifty-two week low of $121.47 and a fifty-two week high of $238.93. The business has a fifty day moving average of $166.46 and a 200-day moving average of $179.24. The stock has a market cap 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 (NYSE:ONTO) last released its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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.

Insiders Place Their Bets

In related news, SVP Srinivas Vedula sold 827 shares of the business’s stock in a transaction that occurred 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. The trade was a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael P. Plisinski sold 35,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the transaction, the chief executive officer now directly owns 150,492 shares in the company, valued at approximately $32,986,341.48. This represents a 18.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 85,827 shares of company stock valued at $18,182,185. Company 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.