Louisiana State Employees Retirement System Acquires New Shares in Onto Innovation Inc. (NYSE:ONTO)

Louisiana State Employees Retirement System acquired a new stake in shares of Onto Innovation Inc. (NYSE:ONTO) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 13,800 shares of the semiconductor company’s stock, valued at approximately $2,110,000.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Onto Innovation by 0.5% during the 3rd 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 last quarter. T. Rowe Price Investment Management Inc. raised its position in Onto Innovation by 14.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,891,994 shares of the semiconductor company’s stock worth $128,826,000 after purchasing an additional 239,310 shares during the last quarter. State Street Corp raised its position in Onto Innovation by 3.6% during the 1st quarter. State Street Corp now owns 1,687,670 shares of the semiconductor company’s stock worth $148,312,000 after purchasing an additional 58,146 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Onto Innovation by 55.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,666,438 shares of the semiconductor company’s stock worth $116,217,000 after purchasing an additional 592,920 shares during the last quarter. Finally, Robeco Schweiz AG raised its position in Onto Innovation by 10.2% during the 1st quarter. Robeco Schweiz AG now owns 1,300,000 shares of the semiconductor company’s stock worth $112,957,000 after purchasing an additional 120,000 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ONTO. Evercore ISI began coverage on Onto Innovation in a research report on Tuesday. They set an “outperform” rating and a $235.00 target price for the company. B. Riley lifted their price objective on Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Benchmark lifted their price objective on Onto Innovation from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. Finally, Stifel Nicolaus lifted their price objective on Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $191.60.

Onto Innovation Price Performance

Shares of Onto Innovation stock opened at $182.06 on Thursday. Onto Innovation Inc. has a one year low of $76.40 and a one year high of $199.72. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of 74.01 and a beta of 1.40. The business has a 50-day simple moving average of $181.76 and a 200 day simple moving average of $154.93.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, February 8th. The semiconductor company reported $1.06 EPS 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 business had revenue of $219.00 million during the quarter, compared to analyst estimates of $209.06 million. During the same period in the previous year, the company posted $1.57 EPS. The firm’s revenue was down 13.5% compared to the same quarter last year. On average, sell-side analysts expect that Onto Innovation Inc. will post 4.7 EPS for the current year.

Insider Activity at Onto Innovation

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

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.