New York State Common Retirement Fund Decreases Stock Position in Onto Innovation Inc. (NYSE:ONTO)

New York State Common Retirement Fund lessened its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 15.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 110,103 shares of the semiconductor company’s stock after selling 20,639 shares during the period. New York State Common Retirement Fund owned approximately 0.22% of Onto Innovation worth $16,835,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Onto Innovation by 0.5% in the third quarter. Vanguard Group Inc. now owns 5,728,291 shares of the semiconductor company’s stock worth $730,472,000 after purchasing an additional 27,695 shares during the period. Paradigm Capital Management Inc. NY increased its stake in Onto Innovation by 0.4% in the third quarter. Paradigm Capital Management Inc. NY now owns 1,182,689 shares of the semiconductor company’s stock worth $150,817,000 after purchasing an additional 4,400 shares during the period. Invesco Ltd. increased its stake in Onto Innovation by 113.7% in the third quarter. Invesco Ltd. now owns 1,074,877 shares of the semiconductor company’s stock worth $137,068,000 after purchasing an additional 571,917 shares during the period. International Assets Investment Management LLC increased its stake in Onto Innovation by 14,819.4% in the fourth quarter. International Assets Investment Management LLC now owns 615,575 shares of the semiconductor company’s stock worth $94,121,000 after purchasing an additional 611,449 shares during the period. Finally, Northern Trust Corp increased its stake in Onto Innovation by 0.8% in the third quarter. Northern Trust Corp now owns 608,293 shares of the semiconductor company’s stock worth $77,570,000 after purchasing an additional 4,583 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Price Performance

Shares of ONTO stock opened at $189.77 on Monday. Onto Innovation Inc. has a 1-year low of $76.40 and a 1-year high of $199.72. The stock’s 50-day moving average is $182.23 and its 200 day moving average is $157.30. The company has a market cap of $9.32 billion, a P/E ratio of 77.14 and a beta of 1.40.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The company had revenue of $219.00 million for the quarter, compared to the consensus estimate of $209.06 million. During the same quarter last year, the company earned $1.57 earnings per share. The firm’s revenue for the quarter was down 13.5% compared to the same quarter last year. On average, analysts anticipate that Onto Innovation Inc. will post 4.7 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Benchmark increased their target price on Onto Innovation from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Stifel Nicolaus increased their price target on Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. Evercore ISI began coverage on Onto Innovation in a research report on Tuesday, April 16th. They set an “outperform” rating and a $235.00 price target on the stock. Finally, B. Riley increased their price target on Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Onto Innovation presently has an average rating of “Moderate Buy” and an average price target of $191.60.

Insider Activity at Onto Innovation

In related news, VP Yoon Ah Oh sold 1,685 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $180.00, for a total transaction of $303,300.00. Following the sale, the vice president now owns 14,913 shares of the company’s stock, valued at $2,684,340. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Onto Innovation news, VP Yoon Ah Oh sold 1,685 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $180.00, for a total value of $303,300.00. Following the completion of the sale, the vice president now owns 14,913 shares of the company’s stock, valued at $2,684,340. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David Brian Miller sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total value of $477,372.00. Following the completion of the sale, the director now directly owns 9,008 shares of the company’s stock, valued at approximately $1,535,773.92. The disclosure for this sale can be found here. Insiders have sold a total of 47,170 shares of company stock valued at $8,266,955 over the last quarter. 0.72% of the stock is owned by corporate insiders.

About Onto Innovation

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.