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

Teachers Retirement System of The State of Kentucky reduced its position in Onto Innovation Inc. (NYSE:ONTO) by 29.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 14,739 shares of the semiconductor company’s stock after selling 6,294 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Onto Innovation were worth $3,059,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Onto Innovation by 2.8% during the 3rd quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company’s stock worth $305,107,000 after buying an additional 39,367 shares in the last quarter. Congress Asset Management Co. grew its holdings in Onto Innovation by 38.1% during the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after acquiring an additional 295,869 shares during the period. Geneva Capital Management LLC raised its position in Onto Innovation by 2.6% in the third quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company’s stock worth $195,032,000 after acquiring an additional 23,628 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Onto Innovation by 28.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock valued at $188,115,000 after acquiring an additional 189,769 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Onto Innovation by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company’s stock worth $173,401,000 after purchasing an additional 13,405 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Benchmark reiterated a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, November 1st. Oppenheimer lifted their price target on shares of Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Jefferies Financial Group decreased their price target on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, Needham & Company LLC dropped their price objective on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Onto Innovation currently has an average rating of “Moderate Buy” and an average target price of $254.29.

Onto Innovation Price Performance

Shares of Onto Innovation stock opened at $167.09 on Friday. Onto Innovation Inc. has a 1 year low of $134.11 and a 1 year high of $238.93. The business has a 50 day moving average price of $183.14 and a 200 day moving average price of $198.60. The company has a market capitalization of $8.25 billion, a P/E ratio of 45.28, a P/E/G ratio of 1.07 and a beta of 1.30.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. The company had revenue of $252.20 million during the quarter, compared to analysts’ expectations of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The business’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.96 earnings per share. As a group, research analysts expect that Onto Innovation Inc. will post 5.22 EPS for the current fiscal year.

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.