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

MML Investors Services LLC boosted its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 6.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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.

Several other institutional investors have also added to or reduced their stakes in the company. Quarry LP grew its holdings in shares of Onto Innovation by 232.4% in the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after buying an additional 108 shares during the last quarter. LGT Financial Advisors LLC raised its position in shares of Onto Innovation by 58.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 90 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Onto Innovation by 40.2% during the 2nd quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock valued at $64,000 after buying an additional 84 shares in the last quarter. Finally, Eastern Bank purchased a new position in Onto Innovation in the third quarter worth about $65,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Benchmark restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, November 1st. Jefferies Financial Group decreased their price target on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Needham & Company LLC dropped their price objective 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. Finally, Oppenheimer reissued an “outperform” rating and issued a $275.00 target price on shares of Onto Innovation in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $254.29.

Onto Innovation Stock Down 0.1 %

ONTO stock opened at $167.25 on Friday. Onto Innovation Inc. has a twelve month low of $134.11 and a twelve month high of $238.93. The firm has a market cap of $8.26 billion, a price-to-earnings ratio of 45.33, a PEG ratio of 1.07 and a beta of 1.30. The business’s fifty day simple moving average is $179.03 and its two-hundred day simple moving average is $196.99.

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

About Onto Innovation

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.