13,800 Shares in Onto Innovation Inc. (NYSE:ONTO) Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in Onto Innovation Inc. (NYSE:ONTO) during the 4th quarter, Holdings Channel reports. The fund bought 13,800 shares of the semiconductor company’s stock, valued at approximately $2,110,000.

Other large investors also recently modified their holdings of the company. Fifth Third Bancorp lifted its holdings in Onto Innovation by 198.3% in the fourth quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock worth $26,000 after buying an additional 115 shares during the period. Contravisory Investment Management Inc. purchased a new stake in Onto Innovation in the fourth quarter worth about $28,000. Huntington National Bank lifted its holdings in Onto Innovation by 70.3% in the third quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock worth $31,000 after buying an additional 102 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Onto Innovation by 51.3% in the third quarter. Public Employees Retirement System of Ohio now owns 516 shares of the semiconductor company’s stock worth $33,000 after buying an additional 175 shares during the period. Finally, Operose Advisors LLC purchased a new stake in Onto Innovation in the third quarter worth about $49,000. 98.35% of the stock is owned by institutional investors.

Onto Innovation Stock Performance

ONTO stock opened at $182.06 on Thursday. The firm has a 50 day moving average price of $181.76 and a 200-day moving average price of $154.93. Onto Innovation Inc. has a 52-week low of $76.40 and a 52-week 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.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The company 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 business earned $1.57 EPS. The firm’s revenue for the quarter was down 13.5% on a year-over-year basis. As a group, sell-side analysts forecast that Onto Innovation Inc. will post 4.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael P. Plisinski sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total value of $7,019,200.00. Following the completion of the transaction, the chief executive officer now directly owns 235,492 shares in the company, valued at approximately $41,324,136.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Onto Innovation news, CEO Michael P. Plisinski sold 40,000 shares of Onto Innovation stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total value of $7,019,200.00. Following the completion of the sale, the chief executive officer now owns 235,492 shares of the company’s stock, valued at approximately $41,324,136.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Yoon Ah Oh sold 2,685 shares of Onto Innovation stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $173.96, for a total transaction of $467,082.60. Following the completion of the sale, the vice president now directly owns 16,598 shares of the company’s stock, valued at approximately $2,887,388.08. The disclosure for this sale can be found here. Insiders sold a total of 47,170 shares of company stock worth $8,266,955 in the last three months. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.