Louisiana State Employees Retirement System Sells 200 Shares of Onto Innovation Inc. (NYSE:ONTO)

Louisiana State Employees Retirement System lowered its stake in Onto Innovation Inc. (NYSE:ONTO) by 1.4% during the 3rd quarter, Holdings Channel reports. The firm owned 13,700 shares of the semiconductor company’s stock after selling 200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Onto Innovation were worth $2,844,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Quarry LP lifted its position in shares of Onto Innovation by 232.4% in the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after buying an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 108 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in Onto Innovation in the 1st quarter worth approximately $28,000. LGT Financial Advisors LLC raised its holdings in shares of Onto Innovation by 58.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock worth $54,000 after acquiring an additional 90 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Onto Innovation by 40.2% during the 2nd quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock valued at $64,000 after acquiring an additional 84 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ONTO shares. Needham & Company LLC raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. Stifel Nicolaus upped their target price on shares of Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Oppenheimer lifted their price target on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Benchmark restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating and seven have issued 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 target price of $261.67.

Insider Activity at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total value of $264,231.00. Following the sale, the senior vice president now owns 16,050 shares in the company, valued at $3,326,202. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is owned by company insiders.

Onto Innovation Trading Up 0.7 %

Onto Innovation stock opened at $204.39 on Monday. The firm has a market capitalization of $10.07 billion, a PE ratio of 72.74, a price-to-earnings-growth ratio of 1.32 and a beta of 1.36. Onto Innovation Inc. has a 12-month low of $108.98 and a 12-month high of $238.93. The firm has a 50-day moving average price of $203.78 and a 200-day moving average price of $206.23.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.12. The business had revenue of $242.33 million during the quarter, compared to the consensus estimate of $235.43 million. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The firm’s quarterly revenue was up 27.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.79 earnings per share. As a group, sell-side analysts predict that Onto Innovation Inc. will post 5.18 earnings per share for the current fiscal year.

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.