New York State Teachers Retirement System Has $13.59 Million Stake in Onto Innovation Inc. (NYSE:ONTO)

New York State Teachers Retirement System reduced its holdings in Onto Innovation Inc. (NYSE:ONTO) by 11.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 61,891 shares of the semiconductor company’s stock after selling 8,000 shares during the period. New York State Teachers Retirement System owned 0.13% of Onto Innovation worth $13,589,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC acquired a new position in Onto Innovation during the first quarter worth $28,000. GAMMA Investing LLC bought a new stake in shares of Onto Innovation in the 4th quarter valued at about $33,000. Rise Advisors LLC bought a new stake in shares of Onto Innovation in the 1st quarter valued at about $38,000. Fifth Third Bancorp lifted its stake in Onto Innovation by 40.2% in the 2nd quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock valued at $64,000 after purchasing an additional 84 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in Onto Innovation by 43.0% during the fourth quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company’s stock worth $56,000 after purchasing an additional 110 shares during the period. 98.35% of the stock is owned by institutional investors.

Insider Activity at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,486 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $213.40, for a total transaction of $317,112.40. Following the completion of the sale, the senior vice president now owns 17,433 shares of the company’s stock, valued at approximately $3,720,202.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Srinivas Vedula sold 1,486 shares of Onto Innovation stock in a transaction on Monday, June 10th. The stock was sold at an average price of $213.40, for a total value of $317,112.40. Following the transaction, the senior vice president now owns 17,433 shares in the company, valued at approximately $3,720,202.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark Slicer sold 519 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $221.21, for a total value of $114,807.99. Following the transaction, the chief financial officer now directly owns 12,552 shares of the company’s stock, valued at approximately $2,776,627.92. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ONTO has been the subject of a number of recent analyst reports. B. Riley raised their price objective on 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 assumed 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 for the company. Stifel Nicolaus increased their price objective on shares of Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Evercore ISI raised their target price on shares of Onto Innovation from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Finally, Needham & Company LLC upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $259.00.

Onto Innovation Stock Up 2.4 %

Shares of NYSE:ONTO opened at $212.96 on Friday. The firm has a market cap of $10.49 billion, a PE ratio of 75.79 and a beta of 1.39. The company’s 50 day moving average price is $207.90 and its two-hundred day moving average price is $198.96. Onto Innovation Inc. has a 12-month low of $108.98 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.12. The firm had revenue of $242.33 million for the quarter, compared to analyst estimates of $235.43 million. Onto Innovation had a return on equity of 11.48% and a net margin of 16.43%. The company’s revenue was up 27.1% on a year-over-year basis. During the same quarter last year, the company earned $0.79 EPS. On average, research analysts expect that Onto Innovation Inc. will post 5.05 EPS for the current year.

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.