Onto Innovation Inc. $ONTO Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 26.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 198,082 shares of the semiconductor company's stock after selling 71,143 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.40% of Onto Innovation worth $40,621,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Onto Innovation by 1,217.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,398,995 shares of the semiconductor company's stock worth $180,778,000 after buying an additional 1,292,772 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Onto Innovation by 21.4% in the fourth quarter. Franklin Resources Inc. now owns 1,353,001 shares of the semiconductor company's stock valued at $213,585,000 after acquiring an additional 238,500 shares during the last quarter. Geode Capital Management LLC raised its position in Onto Innovation by 45.4% in the fourth quarter. Geode Capital Management LLC now owns 1,127,532 shares of the semiconductor company's stock valued at $178,024,000 after purchasing an additional 352,316 shares during the period. Paradigm Capital Management Inc. NY lifted its stake in shares of Onto Innovation by 1.2% in the 4th quarter. Paradigm Capital Management Inc. NY now owns 1,125,838 shares of the semiconductor company's stock valued at $177,725,000 after purchasing an additional 12,999 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Onto Innovation by 88.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 960,911 shares of the semiconductor company's stock valued at $151,689,000 after purchasing an additional 451,084 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Stock Performance

Shares of ONTO stock opened at $250.62 on Friday. Onto Innovation Inc. has a fifty-two week low of $89.40 and a fifty-two week high of $386.46. The company has a 50 day moving average price of $295.26 and a 200 day moving average price of $253.33. The stock has a market capitalization of $12.47 billion, a P/E ratio of 117.11, a price-to-earnings-growth ratio of 0.89 and a beta of 1.55.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.04. The company had revenue of $291.95 million for the quarter, compared to analyst estimates of $292.00 million. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The firm's quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.51 EPS. On average, research analysts forecast that Onto Innovation Inc. will post 7.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ONTO has been the topic of a number of recent analyst reports. Morgan Stanley initiated coverage on shares of Onto Innovation in a research report on Sunday, June 14th. They issued an "overweight" rating and a $371.00 target price on the stock. Evercore reiterated an "outperform" rating and set a $315.00 price target on shares of Onto Innovation in a research report on Friday, April 17th. Deutsche Bank Aktiengesellschaft started coverage on shares of Onto Innovation in a research note on Friday, June 5th. They issued a "buy" rating and a $350.00 price target on the stock. Needham & Company LLC upped their price objective on shares of Onto Innovation from $320.00 to $330.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Finally, Oppenheimer increased their price objective on shares of Onto Innovation from $370.00 to $450.00 and gave the stock an "outperform" rating in a research report on Monday, June 22nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $339.60.

About Onto Innovation

Onto Innovation NYSE: ONTO is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company's solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.

Want to see what other hedge funds are holding ONTO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Onto Innovation Inc. (NYSE:ONTO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.