Strs Ohio Buys 14,300 Shares of Onto Innovation Inc. (NYSE:ONTO)

Strs Ohio raised its stake in shares of Onto Innovation Inc. (NYSE:ONTO) by 100.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,500 shares of the semiconductor company’s stock after buying an additional 14,300 shares during the quarter. Strs Ohio’s holdings in Onto Innovation were worth $4,357,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Fifth Third Bancorp raised its stake in shares of 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 purchasing an additional 115 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in Onto Innovation during the fourth quarter valued at approximately $28,000. Huntington National Bank boosted its stake in Onto Innovation by 70.3% during the third quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 102 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Onto Innovation by 51.3% during the third quarter. Public Employees Retirement System of Ohio now owns 516 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 175 shares during the last quarter. Finally, Operose Advisors LLC bought a new position in Onto Innovation during the third quarter valued at approximately $49,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Benchmark upped their price objective on Onto Innovation from $145.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Stifel Nicolaus increased their price objective on Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Evercore ISI started coverage on Onto Innovation in a research report on Tuesday. They set an “outperform” rating and a $235.00 target price on the stock. B. Riley raised 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. Finally, StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.60.

Onto Innovation Price Performance

ONTO stock opened at $177.70 on Friday. The firm has a market capitalization of $8.73 billion, a PE ratio of 72.24 and a beta of 1.40. Onto Innovation Inc. has a 1 year low of $76.40 and a 1 year high of $199.72. The business has a 50 day simple moving average of $182.01 and a 200-day simple moving average of $155.09.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The company had revenue of $219.00 million for the quarter, compared to analysts’ expectations of $209.06 million. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The firm’s revenue was down 13.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.57 earnings per share. On average, equities research analysts expect that Onto Innovation Inc. will post 4.7 EPS for the current year.

Insider Activity

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

Onto Innovation 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.