MetLife Investment Management LLC Decreases Stake in Onto Innovation Inc. (NYSE:ONTO)

MetLife Investment Management LLC lessened its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,090 shares of the semiconductor company’s stock after selling 437 shares during the quarter. MetLife Investment Management LLC’s holdings in Onto Innovation were worth $5,415,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. QRG Capital Management Inc. raised its holdings in Onto Innovation by 2.7% during the 2nd quarter. QRG Capital Management Inc. now owns 1,935 shares of the semiconductor company’s stock valued at $425,000 after buying an additional 50 shares during the last quarter. Magnetar Financial LLC increased its position in shares of Onto Innovation by 4.0% in the second quarter. Magnetar Financial LLC now owns 1,622 shares of the semiconductor company’s stock valued at $356,000 after acquiring an additional 63 shares during the period. Shaker Investments LLC OH raised its stake in shares of Onto Innovation by 1.7% during the second quarter. Shaker Investments LLC OH now owns 3,928 shares of the semiconductor company’s stock valued at $862,000 after acquiring an additional 64 shares during the last quarter. Quarry LP boosted its holdings in shares of Onto Innovation by 232.4% during the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 79 shares during the period. Finally, Hunter Perkins Capital Management LLC grew its stake in shares of Onto Innovation by 3.6% in the third quarter. Hunter Perkins Capital Management LLC now owns 2,325 shares of the semiconductor company’s stock worth $483,000 after purchasing an additional 80 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Up 1.9 %

Shares of ONTO stock opened at $164.18 on Friday. The stock has a market cap of $8.11 billion, a price-to-earnings ratio of 44.49, a PEG ratio of 1.03 and a beta of 1.37. The business’s fifty day moving average is $191.02 and its 200 day moving average is $202.88. Onto Innovation Inc. has a twelve month low of $134.11 and a twelve month high of $238.93.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The company had revenue of $252.20 million during the quarter, compared to analyst estimates of $250.85 million. During the same period last year, the business earned $0.96 EPS. Onto Innovation’s quarterly revenue was up 21.7% compared to the same quarter last year. Equities research analysts expect that Onto Innovation Inc. will post 5.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total value of $264,231.00. Following the sale, the senior vice president now owns 16,050 shares in the company, valued at $3,326,202. This represents a 7.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ONTO. Needham & Company LLC lowered their price target on 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 upped their target price on Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Benchmark reiterated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, November 1st. Finally, Jefferies Financial Group decreased their price objective on shares of 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $254.29.

Onto Innovation 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.