Onto Innovation Inc. (NYSE:ONTO) Position Raised by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its position in Onto Innovation Inc. (NYSE:ONTO) by 28.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,683 shares of the semiconductor company’s stock after purchasing 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 quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in shares of Onto Innovation by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock valued at $416,863,000 after purchasing an additional 228,800 shares in the last quarter. State Street Corp lifted its stake in shares of Onto Innovation by 2.8% in the 3rd quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company’s stock worth $305,107,000 after acquiring an additional 39,367 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Onto Innovation by 4.5% in the third quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company’s stock valued at $288,320,000 after acquiring an additional 54,868 shares in the last quarter. Geneva Capital Management LLC increased its stake in shares of Onto Innovation by 7.6% during the fourth quarter. Geneva Capital Management LLC now owns 1,010,691 shares of the semiconductor company’s stock valued at $168,452,000 after acquiring an additional 71,050 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Onto Innovation by 1.6% during the third 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. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ONTO. Needham & Company LLC reiterated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Benchmark reaffirmed a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $250.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Stifel Nicolaus reduced their target price on Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a report on Friday, February 7th. Finally, StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Onto Innovation has an average rating of “Moderate Buy” and a consensus price target of $246.88.

Insider Activity

In other Onto Innovation news, CEO Michael P. Plisinski sold 20,000 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the transaction, the chief executive officer now directly owns 215,492 shares of the company’s stock, valued at $43,139,343.48. This represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Srinivas Vedula sold 827 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 15,223 shares in the company, valued at $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,827 shares of company stock worth $18,182,185 in the last three months. 0.72% of the stock is owned by insiders.

Onto Innovation Trading Up 3.9 %

Shares of NYSE ONTO opened at $140.87 on Tuesday. Onto Innovation Inc. has a one year low of $121.47 and a one year high of $238.93. The business has a 50-day moving average price of $170.88 and a two-hundred day moving average price of $180.19. The firm has a market capitalization of $6.94 billion, a PE ratio of 34.70, a PEG ratio of 0.89 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. Research analysts anticipate that Onto Innovation Inc. will post 6.26 EPS for the current 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.