State of Alaska Department of Revenue Grows Position in Onto Innovation Inc. (NYSE:ONTO)

State of Alaska Department of Revenue lifted its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 7.2% in the 3rd quarter, Holdings Channel reports. The firm owned 5,710 shares of the semiconductor company’s stock after acquiring an additional 385 shares during the period. State of Alaska Department of Revenue’s holdings in Onto Innovation were worth $1,185,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Quarry LP lifted its stake in Onto Innovation by 232.4% during the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 79 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Onto Innovation by 675.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 108 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Onto Innovation during the first quarter worth approximately $28,000. LGT Financial Advisors LLC lifted its holdings in shares of Onto Innovation by 58.1% in 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 during the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Onto Innovation by 40.2% in the 2nd quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock valued at $64,000 after purchasing an additional 84 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors.

Onto Innovation Stock Performance

Shares of ONTO stock opened at $172.95 on Tuesday. Onto Innovation Inc. has a fifty-two week low of $117.44 and a fifty-two week high of $238.93. The firm has a market cap of $8.54 billion, a P/E ratio of 46.87, a P/E/G ratio of 1.28 and a beta of 1.37. The business’s 50 day moving average price is $201.79 and its 200-day moving average price is $206.82.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.61%. The business had revenue of $252.20 million for the quarter, compared to analysts’ expectations of $250.85 million. During the same quarter in the previous year, the business posted $0.96 earnings per share. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year. As a group, equities analysts predict that Onto Innovation Inc. will post 5.18 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ONTO. Stifel Nicolaus lifted their target price on shares of Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Needham & Company LLC decreased their price objective on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Friday. Oppenheimer increased their target price on Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Friday. Benchmark reaffirmed a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday. Finally, Jefferies Financial Group dropped their price objective on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research note on Friday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.29.

Insider Activity at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total value of $264,231.00. Following the completion of the sale, the senior vice president now directly 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 sale was disclosed in a filing with the SEC, which is available at this link. 0.72% of the stock is owned by corporate insiders.

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.