Teacher Retirement System of Texas Has $3.61 Million Stock Position in Onto Innovation Inc. (NYSE:ONTO)

Teacher Retirement System of Texas increased its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 28.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,683 shares of the semiconductor company’s stock after acquiring an additional 4,762 shares during the quarter. Teacher Retirement System of Texas’ holdings in Onto Innovation were worth $3,614,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ONTO. Xponance Inc. increased its holdings in shares of Onto Innovation by 5.6% during the 4th quarter. Xponance Inc. now owns 6,804 shares of the semiconductor company’s stock worth $1,134,000 after purchasing an additional 360 shares during the period. Thrivent Financial for Lutherans grew its position in Onto Innovation by 8.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 350,261 shares of the semiconductor company’s stock worth $58,378,000 after buying an additional 28,741 shares in the last quarter. South Street Advisors LLC increased its stake in Onto Innovation by 0.8% during the fourth quarter. South Street Advisors LLC now owns 89,292 shares of the semiconductor company’s stock valued at $14,882,000 after acquiring an additional 742 shares during the period. Picton Mahoney Asset Management raised its holdings in Onto Innovation by 10.2% in the 4th quarter. Picton Mahoney Asset Management now owns 50,055 shares of the semiconductor company’s stock valued at $8,344,000 after acquiring an additional 4,639 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its position in shares of Onto Innovation by 5.2% in the 4th quarter. First Eagle Investment Management LLC now owns 5,103 shares of the semiconductor company’s stock worth $851,000 after acquiring an additional 250 shares during the period. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ONTO shares. Benchmark restated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Stifel Nicolaus reduced their price objective on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a report on Friday, February 7th. Needham & Company LLC reissued a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Finally, Oppenheimer lowered their price objective on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Onto Innovation presently has an average rating of “Moderate Buy” and an average target price of $246.88.

Insiders Place Their Bets

In other news, CEO Michael P. Plisinski sold 35,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total value of $7,671,650.00. Following the transaction, the chief executive officer now directly owns 150,492 shares in the company, valued at $32,986,341.48. This trade represents a 18.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Srinivas Vedula sold 827 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the sale, the senior vice president now owns 15,223 shares of the company’s stock, valued at $3,120,715. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,827 shares of company stock valued at $18,182,185 in the last 90 days. 0.72% of the stock is currently owned by insiders.

Onto Innovation Trading Up 3.9 %

NYSE:ONTO opened at $140.87 on Tuesday. The stock has a market capitalization of $6.94 billion, a P/E ratio of 34.70, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a 1 year low of $121.47 and a 1 year high of $238.93. The firm has a 50 day moving average of $170.88 and a 200-day moving average of $180.19.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. As a group, analysts forecast that Onto Innovation Inc. will post 6.26 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.