MML Investors Services LLC Purchases 230 Shares of Onto Innovation Inc. (NYSE:ONTO)

MML Investors Services LLC boosted its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 6.6% during the 3rd quarter, Holdings Channel reports. The fund owned 3,718 shares of the semiconductor company’s stock after buying an additional 230 shares during the period. MML Investors Services LLC’s holdings in Onto Innovation were worth $772,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ONTO. Millennium Management LLC lifted its position in shares of Onto Innovation by 304.9% in the 2nd quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company’s stock worth $98,329,000 after purchasing an additional 337,250 shares during the period. Congress Asset Management Co. lifted its holdings in 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 worth $222,670,000 after buying an additional 295,869 shares during the period. Citigroup Inc. boosted its position in Onto Innovation by 811.7% during the 3rd quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company’s stock valued at $66,236,000 after acquiring an additional 284,115 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Onto Innovation by 379.8% in the 2nd 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. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Onto Innovation by 28.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock worth $188,115,000 after acquiring an additional 189,769 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Down 0.1 %

ONTO stock opened at $167.25 on Friday. Onto Innovation Inc. has a 52 week low of $134.11 and a 52 week high of $238.93. The stock has a market capitalization of $8.26 billion, a PE ratio of 45.33, a price-to-earnings-growth ratio of 1.07 and a beta of 1.30. The firm has a 50 day moving average of $179.03 and a 200 day moving average of $196.99.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ONTO. Oppenheimer reaffirmed an “outperform” rating and set a $275.00 price objective on shares of Onto Innovation in a research report on Tuesday. Benchmark restated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, November 1st. Jefferies Financial Group reduced their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Finally, Needham & Company LLC lowered their target price on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $254.29.

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.