Onto Innovation Inc. (NYSE:ONTO) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its stake in Onto Innovation Inc. (NYSE:ONTO) by 72.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 870,250 shares of the semiconductor company’s stock after buying an additional 364,853 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.76% of Onto Innovation worth $145,045,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Onto Innovation by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company’s stock worth $861,040,000 after buying an additional 76,233 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Onto Innovation by 9.2% in the 4th quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company’s stock valued at $365,380,000 after buying an additional 183,839 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Onto Innovation by 21.2% during the 4th quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company’s stock worth $258,883,000 after acquiring an additional 271,470 shares during the period. Artisan Partners Limited Partnership boosted its position in shares of Onto Innovation by 41.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company’s stock valued at $252,530,000 after acquiring an additional 444,860 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Onto Innovation by 2.8% in the third quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company’s stock valued at $305,107,000 after purchasing an additional 39,367 shares during the period. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Trading Down 4.7 %

ONTO opened at $104.63 on Friday. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 0.89 and a beta of 1.29. The stock’s 50-day moving average price is $154.44 and its 200 day moving average price is $176.24. Onto Innovation Inc. has a 12-month low of $98.21 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, beating 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%. On average, research analysts forecast that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total value of $7,671,650.00. Following the completion of the transaction, the chief executive officer now directly owns 150,492 shares in the company, valued at approximately $32,986,341.48. This trade represents a 18.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the sale, the senior vice president now owns 15,223 shares in the company, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 85,827 shares of company stock worth $18,182,185 over the last 90 days. Corporate insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Oppenheimer cut their target price on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Finally, Jefferies Financial Group cut their price objective on Onto Innovation from $245.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, March 28th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $231.88.

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.