Onto Innovation Inc. (NYSE:ONTO) Shares Bought by Strs Ohio

Strs Ohio lifted its position in Onto Innovation Inc. (NYSE:ONTO) by 100.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,500 shares of the semiconductor company’s stock after acquiring an additional 14,300 shares during the quarter. Strs Ohio owned 0.06% of Onto Innovation worth $4,357,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ONTO. International Assets Investment Management LLC boosted its position in Onto Innovation by 14,819.4% during the 4th quarter. International Assets Investment Management LLC now owns 615,575 shares of the semiconductor company’s stock valued at $94,121,000 after purchasing an additional 611,449 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Onto Innovation by 55.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,666,438 shares of the semiconductor company’s stock valued at $116,217,000 after purchasing an additional 592,920 shares during the period. Invesco Ltd. boosted its position in Onto Innovation by 113.7% during the 3rd quarter. Invesco Ltd. now owns 1,074,877 shares of the semiconductor company’s stock valued at $137,068,000 after purchasing an additional 571,917 shares during the period. Norges Bank acquired a new position in Onto Innovation during the 4th quarter valued at approximately $33,441,000. Finally, Envestnet Asset Management Inc. boosted its position in Onto Innovation by 572.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 527,016 shares of the semiconductor company’s stock valued at $6,392,000 after purchasing an additional 448,591 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Insider Activity

In other news, CEO Michael P. Plisinski sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was 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 directly owns 235,492 shares in the company, valued at approximately $41,324,136.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Michael P. Plisinski sold 40,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the sale, the chief executive officer now directly owns 235,492 shares in the company, valued at approximately $41,324,136.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Yoon Ah Oh sold 1,685 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $180.00, for a total value of $303,300.00. Following the completion of the transaction, the vice president now owns 14,913 shares in the company, valued at $2,684,340. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,170 shares of company stock worth $8,266,955. Company insiders own 0.72% of the company’s stock.

Onto Innovation Stock Performance

NYSE ONTO opened at $177.70 on Friday. Onto Innovation Inc. has a twelve month low of $76.40 and a twelve month high of $199.72. The stock has a market capitalization of $8.73 billion, a PE ratio of 72.24 and a beta of 1.40. The stock has a 50-day simple moving average of $182.01 and a 200 day simple moving average of $155.09.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.07. The business had revenue of $219.00 million during the quarter, compared to analysts’ expectations of $209.06 million. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The firm’s revenue was down 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.57 EPS. As a group, equities research analysts forecast that Onto Innovation Inc. will post 4.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. B. Riley lifted their target price on Onto Innovation from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Evercore ISI assumed coverage on Onto Innovation in a research note on Tuesday. They set an “outperform” rating and a $235.00 target price on the stock. Stifel Nicolaus lifted their target price on Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Finally, Benchmark lifted their target price on Onto Innovation from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $191.60.

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.