MetLife Investment Management LLC Has $4.73 Million Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

MetLife Investment Management LLC increased its stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,388 shares of the semiconductor company's stock after buying an additional 2,298 shares during the period. MetLife Investment Management LLC owned about 0.06% of Onto Innovation worth $4,731,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Onto Innovation during the 4th quarter valued at approximately $87,987,000. Artisan Partners Limited Partnership boosted its holdings in shares of Onto Innovation by 41.6% in 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 buying an additional 444,860 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Onto Innovation by 72.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 870,250 shares of the semiconductor company's stock valued at $145,045,000 after buying an additional 364,853 shares during the period. Invesco Ltd. grew its position in shares of Onto Innovation by 33.9% during the 4th quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company's stock valued at $234,344,000 after buying an additional 356,161 shares during the last quarter. Finally, Franklin Resources Inc. raised its position 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 purchasing an additional 271,470 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Stock Performance

Shares of NYSE:ONTO traded down $0.30 during midday trading on Wednesday, reaching $121.98. The company had a trading volume of 962,628 shares, compared to its average volume of 802,773. The company has a fifty day simple moving average of $127.90 and a two-hundred day simple moving average of $164.44. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of 30.04, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46. Onto Innovation Inc. has a 1-year low of $98.21 and a 1-year high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, topping 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%. Analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ONTO. StockNews.com raised Onto Innovation from a "sell" rating to a "hold" rating in a report on Thursday, February 27th. Oppenheimer lowered their target price on shares of Onto Innovation from $240.00 to $150.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Stifel Nicolaus decreased their price objective on shares of Onto Innovation from $200.00 to $180.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Jefferies Financial Group cut their target price 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. Finally, Needham & Company LLC reiterated a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $218.13.

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.