Teachers Retirement System of The State of Kentucky Lowers Position in Onto Innovation Inc. (NYSE:ONTO)

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 10.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,609 shares of the semiconductor company’s stock after selling 3,193 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.05% of Onto Innovation worth $4,068,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of ONTO. Vanguard Group Inc. lifted its position in Onto Innovation by 0.5% during the third quarter. Vanguard Group Inc. now owns 5,728,291 shares of the semiconductor company’s stock valued at $730,472,000 after purchasing an additional 27,695 shares during the last quarter. Retirement Systems of Alabama bought a new stake in Onto Innovation in the 4th quarter worth approximately $9,399,000. Pacer Advisors Inc. lifted its holdings in shares of Onto Innovation by 2,306.3% in the 4th quarter. Pacer Advisors Inc. now owns 10,997 shares of the semiconductor company’s stock worth $1,681,000 after acquiring an additional 10,540 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Onto Innovation by 854.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 296,049 shares of the semiconductor company’s stock valued at $45,266,000 after purchasing an additional 265,042 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its holdings in shares of Onto Innovation by 36.8% during the 4th quarter. Eagle Asset Management Inc. now owns 295,824 shares of the semiconductor company’s stock valued at $45,231,000 after purchasing an additional 79,530 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Price Performance

Shares of ONTO opened at $222.62 on Tuesday. The firm has a market capitalization of $10.97 billion, a P/E ratio of 79.22 and a beta of 1.43. Onto Innovation Inc. has a one year low of $103.93 and a one year high of $238.13. The business has a fifty day moving average of $207.57 and a 200 day moving average of $180.14.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.10 by $0.08. The firm had revenue of $228.80 million during the quarter, compared to analyst estimates of $222.60 million. Onto Innovation had a net margin of 16.43% and a return on equity of 11.48%. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.92 EPS. Analysts expect that Onto Innovation Inc. will post 5.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Stifel Nicolaus lifted their target price on shares of Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Benchmark raised their price objective on Onto Innovation from $180.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Evercore ISI upped their price target 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. Jefferies Financial Group initiated coverage on shares of Onto Innovation in a research note on Monday, May 13th. They issued a “buy” rating and a $265.00 target price on the stock. Finally, Needham & Company LLC restated a “hold” rating on shares of Onto Innovation in a report on Friday, May 10th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Onto Innovation currently has a consensus rating of “Moderate Buy” and an average target price of $242.00.

Insider Activity at Onto Innovation

In other news, CFO Mark Slicer sold 519 shares of the firm’s stock in a transaction dated 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 owns 12,552 shares of the company’s stock, valued at $2,776,627.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Michael P. Plisinski sold 40,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total value of $7,019,200.00. Following the sale, the chief executive officer now owns 235,492 shares in the company, valued at $41,324,136.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Slicer sold 519 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $221.21, for a total transaction of $114,807.99. Following the completion of 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. Over the last three months, insiders have sold 42,005 shares of company stock worth $7,451,120. Corporate 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.