Mutual of America Capital Management LLC Has $9.14 Million Position in Onto Innovation Inc. (NYSE:ONTO)

Mutual of America Capital Management LLC trimmed its holdings in Onto Innovation Inc. (NYSE:ONTO) by 19.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,055 shares of the semiconductor company’s stock after selling 10,799 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Onto Innovation were worth $9,144,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Millennium Management LLC increased its holdings in shares of Onto Innovation by 304.9% in the second quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company’s stock valued at $98,329,000 after purchasing an additional 337,250 shares in the last quarter. Congress Asset Management Co. lifted its stake in shares of Onto Innovation by 38.1% during the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock valued at $222,670,000 after acquiring an additional 295,869 shares during the period. Natixis Advisors LLC lifted its stake in shares of Onto Innovation by 379.8% during the second quarter. Natixis Advisors LLC now owns 245,144 shares of the semiconductor company’s stock valued at $53,824,000 after acquiring an additional 194,056 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Onto Innovation by 28.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock valued at $188,115,000 after acquiring an additional 189,769 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Onto Innovation in the third quarter worth about $30,418,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Stock Down 3.8 %

Shares of ONTO stock opened at $158.54 on Monday. The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of 42.96, a price-to-earnings-growth ratio of 1.02 and a beta of 1.37. Onto Innovation Inc. has a 12-month low of $131.78 and a 12-month high of $238.93. The firm has a fifty day moving average of $196.76 and a 200-day moving average of $206.08.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. The firm had revenue of $252.20 million during the quarter, compared to analysts’ expectations of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The company’s revenue was up 21.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 earnings per share. Research analysts expect that Onto Innovation Inc. will post 5.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ONTO has been the topic of several recent research reports. Jefferies Financial Group reduced their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Needham & Company LLC reduced their price objective on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Oppenheimer upped their target price on shares of Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Benchmark restated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $254.29.

Insiders Place Their Bets

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total transaction of $264,231.00. Following the completion of the transaction, the senior vice president now owns 16,050 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Corporate 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.