Onto Innovation Inc. (NYSE:ONTO) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System raised its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 2.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,753 shares of the semiconductor company’s stock after buying an additional 264 shares during the period. Arizona State Retirement System’s holdings in Onto Innovation were worth $3,020,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its position in shares of Onto Innovation by 42.8% during the 2nd quarter. Victory Capital Management Inc. now owns 107,906 shares of the semiconductor company’s stock valued at $23,692,000 after acquiring an additional 32,329 shares during the last quarter. LGT Financial Advisors LLC raised its position in shares of Onto Innovation by 58.1% during the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 90 shares during the period. Cozad Asset Management Inc. purchased a new stake in shares of Onto Innovation during the second quarter valued at $220,000. Versor Investments LP acquired a new position in shares of Onto Innovation in the 2nd quarter valued at $263,000. Finally, Natixis Advisors LLC increased its stake in Onto Innovation by 379.8% in the 2nd quarter. Natixis Advisors LLC now owns 245,144 shares of the semiconductor company’s stock worth $53,824,000 after purchasing an additional 194,056 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Stock Performance

Onto Innovation stock opened at $180.72 on Tuesday. The firm’s 50 day moving average price is $203.05 and its two-hundred day moving average price is $201.42. The firm has a market cap of $8.92 billion, a PE ratio of 64.31 and a beta of 1.37. Onto Innovation Inc. has a twelve month low of $108.98 and a twelve month high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.12. The business had revenue of $242.33 million for the quarter, compared to the consensus estimate of $235.43 million. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. Onto Innovation’s revenue for the quarter was up 27.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.79 earnings per share. Equities analysts anticipate that Onto Innovation Inc. will post 5.18 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on ONTO. Needham & Company LLC raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. B. Riley upped their price target on shares of Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Jefferies Financial Group initiated coverage on shares of Onto Innovation in a research report on Monday, May 13th. They set a “buy” rating and a $265.00 price objective on the stock. Stifel Nicolaus increased their target price on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Benchmark reiterated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $259.00.

Insider Transactions at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total transaction of $264,231.00. Following the completion of the sale, the senior vice president now directly owns 16,050 shares in the company, valued at approximately $3,326,202. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.72% of the company’s stock.

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.