Onto Innovation Inc. (NYSE:ONTO) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky decreased its position in Onto Innovation Inc. (NYSE:ONTO) by 16.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 21,033 shares of the semiconductor company’s stock after selling 4,092 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Onto Innovation were worth $4,617,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its holdings in shares of Onto Innovation by 43.0% during the 4th quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company’s stock valued at $56,000 after purchasing an additional 110 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Onto Innovation by 54.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 178,216 shares of the semiconductor company’s stock valued at $27,249,000 after purchasing an additional 62,756 shares during the period. American International Group Inc. boosted its stake in Onto Innovation by 235.7% in the fourth quarter. American International Group Inc. now owns 90,255 shares of the semiconductor company’s stock worth $13,800,000 after purchasing an additional 63,367 shares in the last quarter. CenterBook Partners LP acquired a new stake in Onto Innovation in the 4th quarter valued at about $669,000. Finally, Prudential PLC acquired a new stake in shares of Onto Innovation in the fourth quarter valued at approximately $2,663,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ONTO shares. Benchmark reaffirmed a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, August 9th. Stifel Nicolaus boosted their price target on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 15th. B. Riley upped their target price on Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Needham & Company LLC upgraded Onto Innovation from a “hold” rating to a “buy” rating in a report on Monday, August 19th. Finally, Oppenheimer boosted their price target on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report 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 data from MarketBeat.com, Onto Innovation presently has an average rating of “Moderate Buy” and an average target price of $261.67.

Onto Innovation Stock Performance

Shares of NYSE ONTO opened at $209.59 on Thursday. Onto Innovation Inc. has a fifty-two week low of $108.98 and a fifty-two week high of $238.93. The stock has a market cap of $10.33 billion, a price-to-earnings ratio of 74.59 and a beta of 1.37. The firm’s 50-day simple moving average is $195.83 and its 200 day simple moving average is $203.21.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, August 8th. The semiconductor company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.20 by $0.12. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The firm had revenue of $242.33 million for the quarter, compared to analysts’ expectations of $235.43 million. During the same quarter last year, the firm earned $0.79 EPS. The company’s quarterly revenue was up 27.1% compared to the same quarter last year. On average, sell-side analysts predict that Onto Innovation Inc. will post 5.18 EPS for the current year.

Insider Buying and Selling at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total value of $264,231.00. Following the completion of the sale, the senior vice president now owns 16,050 shares of the company’s stock, valued at $3,326,202. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.72% of the company’s stock.

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.