Onto Innovation Inc. $ONTO Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its holdings in Onto Innovation Inc. (NYSE:ONTO) by 18.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,289 shares of the semiconductor company’s stock after selling 501 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Onto Innovation were worth $278,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its position in Onto Innovation by 177.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 151 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in Onto Innovation in the 1st quarter valued at $29,000. Migdal Insurance & Financial Holdings Ltd. grew its position in Onto Innovation by 79.4% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 244 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 108 shares during the last quarter. Larson Financial Group LLC grew its position in Onto Innovation by 3,700.0% in the 1st quarter. Larson Financial Group LLC now owns 266 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 259 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in Onto Innovation in the 4th quarter valued at $38,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ONTO shares. Needham & Company LLC lowered their price objective on shares of Onto Innovation from $230.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Benchmark decreased their target price on shares of Onto Innovation from $190.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. B. Riley decreased their target price on shares of Onto Innovation from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. Wall Street Zen upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a research report on Saturday, May 17th. Finally, Jefferies Financial Group set a $110.00 target price on shares of Onto Innovation and gave the stock a “hold” rating in a research report on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Onto Innovation presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.86.

Onto Innovation Stock Up 1.6%

NYSE:ONTO opened at $108.63 on Tuesday. The company has a market capitalization of $5.32 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 0.72 and a beta of 1.44. Onto Innovation Inc. has a 52-week low of $85.88 and a 52-week high of $228.42. The stock has a fifty day simple moving average of $99.86 and a 200-day simple moving average of $118.69.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, August 7th. The semiconductor company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.02). Onto Innovation had a net margin of 19.29% and a return on equity of 14.38%. The firm had revenue of $253.60 million during the quarter, compared to analyst estimates of $250.56 million. During the same period in the previous year, the firm posted $1.32 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities analysts anticipate that Onto Innovation Inc. will post 6.26 earnings per share for the current year.

Onto Innovation Company 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.