State of New Jersey Common Pension Fund D Sells 10,487 Shares of Onto Innovation Inc. (NYSE:ONTO)

State of New Jersey Common Pension Fund D decreased its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 36.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 18,299 shares of the semiconductor company’s stock after selling 10,487 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Onto Innovation were worth $4,018,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of ONTO. Teacher Retirement System of Texas raised its stake in Onto Innovation by 27.0% in the 4th quarter. Teacher Retirement System of Texas now owns 8,484 shares of the semiconductor company’s stock worth $1,297,000 after purchasing an additional 1,804 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Onto Innovation by 106.5% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 7,263 shares of the semiconductor company’s stock worth $1,111,000 after purchasing an additional 3,746 shares in the last quarter. Securian Asset Management Inc. acquired a new stake in Onto Innovation in the 4th quarter worth about $638,000. Robeco Institutional Asset Management B.V. acquired a new stake in Onto Innovation in the 4th quarter worth about $693,000. Finally, Norges Bank acquired a new stake in Onto Innovation in the 4th quarter worth about $89,785,000. Institutional investors own 98.35% of the company’s stock.

Insider Activity at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total transaction of $264,231.00. Following the sale, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is currently owned by insiders.

Onto Innovation Trading Down 4.2 %

Shares of Onto Innovation stock opened at $189.48 on Tuesday. The firm has a market capitalization of $9.34 billion, a PE ratio of 67.43 and a beta of 1.37. The firm’s 50 day moving average is $199.39 and its 200 day moving average is $201.80. Onto Innovation Inc. has a 1 year low of $108.98 and a 1 year high of $238.93.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ONTO. B. Riley lifted their price objective on shares of Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Needham & Company LLC upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a research report on Monday, August 19th. Benchmark restated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research report on Friday, August 9th. Finally, Stifel Nicolaus boosted their target price 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. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $259.00.

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.