New York State Common Retirement Fund decreased its stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 4.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 146,393 shares of the semiconductor company's stock after selling 6,819 shares during the period. New York State Common Retirement Fund owned approximately 0.30% of Onto Innovation worth $30,385,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Onto Innovation by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 5,254,287 shares of the semiconductor company's stock worth $951,446,000 after purchasing an additional 65,472 shares during the last quarter. Congress Asset Management Co. boosted its stake in Onto Innovation by 38.1% in the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company's stock valued at $222,670,000 after acquiring an additional 295,869 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Onto Innovation by 28.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company's stock valued at $188,115,000 after buying an additional 189,769 shares during the period. Hood River Capital Management LLC raised its position in shares of Onto Innovation by 6.9% in the 1st quarter. Hood River Capital Management LLC now owns 672,230 shares of the semiconductor company's stock valued at $121,727,000 after acquiring an additional 43,132 shares during the period. Finally, Driehaus Capital Management LLC increased its stake in Onto Innovation by 2.0% in the second quarter. Driehaus Capital Management LLC now owns 535,769 shares of the semiconductor company's stock valued at $117,633,000 after purchasing an additional 10,328 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the company. Needham & Company LLC decreased their target price on Onto Innovation from $245.00 to $230.00 and set a "buy" rating for the company in a research note on Friday. Jefferies Financial Group lowered their price target on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating on the stock in a research note on Friday. Stifel Nicolaus lifted their price objective 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. Benchmark reissued a "buy" rating and set a $230.00 target price on shares of Onto Innovation in a report on Friday. Finally, Oppenheimer upped their price target on shares of Onto Innovation from $260.00 to $275.00 and gave the company an "outperform" rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $254.29.
Get Our Latest Research Report on Onto Innovation
ONTO stock opened at $176.10 on Monday. The company has a market cap of $8.70 billion, a PE ratio of 47.72, a price-to-earnings-growth ratio of 1.28 and a beta of 1.37. Onto Innovation Inc. has a 52 week low of $115.07 and a 52 week high of $238.93. The business has a 50-day simple moving average of $202.50 and a 200 day simple moving average of $206.86.
Onto Innovation (NYSE:ONTO - Get Free Report) last released its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.03. The firm had revenue of $252.20 million during the quarter, compared to analysts' expectations of $250.85 million. Onto Innovation had a return on equity of 13.61% and a net margin of 19.44%. The company's quarterly revenue was up 21.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.96 earnings per share. On average, analysts anticipate that Onto Innovation Inc. will post 5.18 EPS for the current fiscal year.
In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total value of $264,231.00. Following the completion of the transaction, the senior vice president now directly owns 16,050 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is currently owned by company insiders.
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.
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