Louisiana State Employees Retirement System Takes $2.95 Million Position in Onto Innovation Inc. $ONTO

Louisiana State Employees Retirement System acquired a new position in Onto Innovation Inc. (NYSE:ONTO) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 14,400 shares of the semiconductor company’s stock, valued at approximately $2,953,000.

Other institutional investors have also recently made changes to their positions in the company. Root Financial Partners LLC lifted its holdings in Onto Innovation by 71.2% in the 4th quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 74 shares in the last quarter. Transamerica Financial Advisors LLC grew its holdings in Onto Innovation by 188.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 115 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in Onto Innovation by 109.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 245 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 128 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Onto Innovation during the fourth quarter valued at approximately $39,000. Finally, Danske Bank A S bought a new stake in shares of Onto Innovation during the third quarter valued at approximately $39,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Needham & Company LLC upped their target price on shares of Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Freedom Capital upgraded shares of Onto Innovation to a “strong-buy” rating in a research note on Wednesday, June 17th. Morgan Stanley started coverage on shares of Onto Innovation in a report on Sunday, June 14th. They set an “overweight” rating and a $371.00 price objective for the company. Weiss Ratings upgraded Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Finally, B. Riley Financial increased their price target on Onto Innovation from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $328.60.

Onto Innovation Stock Performance

ONTO stock opened at $323.79 on Monday. The firm has a market cap of $16.11 billion, a price-to-earnings ratio of 151.30, a PEG ratio of 1.32 and a beta of 1.63. Onto Innovation Inc. has a one year low of $89.40 and a one year high of $353.18. The firm has a 50-day simple moving average of $288.60 and a two-hundred day simple moving average of $231.02.

Onto Innovation (NYSE:ONTO) last released its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.04. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The company had revenue of $291.95 million for the quarter, compared to the consensus estimate of $292.00 million. During the same quarter in the previous year, the firm earned $1.51 EPS. Onto Innovation’s revenue was up 9.5% compared to the same quarter last year. As a group, equities analysts predict that Onto Innovation Inc. will post 7.14 earnings per share for the current fiscal year.

About Onto Innovation

Onto Innovation (NYSE:ONTO) is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company’s solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.