Onto Innovation Inc. (NYSE:ONTO) Shares Purchased by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina grew its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,530 shares of the semiconductor company’s stock after purchasing an additional 130 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Onto Innovation were worth $3,588,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Commonwealth Equity Services LLC boosted its position in Onto Innovation by 1.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 16,083 shares of the semiconductor company’s stock worth $2,680,000 after acquiring an additional 225 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Onto Innovation by 12.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after purchasing an additional 228,800 shares during the last quarter. Barclays PLC grew its position in shares of Onto Innovation by 1,296.7% in the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock valued at $45,079,000 after purchasing an additional 201,640 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Onto Innovation by 40.2% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 140,455 shares of the semiconductor company’s stock valued at $23,410,000 after purchasing an additional 40,290 shares during the last quarter. Finally, Argent Capital Management LLC purchased a new position in Onto Innovation during the fourth quarter worth approximately $437,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Benchmark reaffirmed a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Needham & Company LLC restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Jefferies Financial Group cut their price target on shares of Onto Innovation from $245.00 to $175.00 and set a “buy” rating for the company in a report on Friday, March 28th. Finally, StockNews.com upgraded Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Onto Innovation has a consensus rating of “Moderate Buy” and an average target price of $218.13.

Onto Innovation Stock Performance

Onto Innovation stock opened at $120.32 on Wednesday. The company has a market capitalization of $5.93 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46. Onto Innovation Inc. has a fifty-two week low of $98.21 and a fifty-two week high of $238.93. The firm has a 50 day moving average price of $139.97 and a 200 day moving average price of $170.98.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, beating 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, equities research analysts forecast that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Insiders Place Their Bets

In other Onto Innovation news, CEO Michael P. Plisinski sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total value of $7,671,650.00. Following the completion of the transaction, the chief executive officer now owns 150,492 shares of the company’s stock, valued at $32,986,341.48. This trade represents a 18.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.72% of the company’s stock.

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.