New York State Common Retirement Fund Has $30.39 Million Stake in Onto Innovation Inc. (NYSE:ONTO)

New York State Common Retirement Fund decreased its stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 4.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. 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 0.30% of Onto Innovation worth $30,385,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Quarry LP lifted its holdings in shares of Onto Innovation by 232.4% during the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company's stock worth $27,000 after acquiring an additional 108 shares during the period. Fidelis Capital Partners LLC acquired a new stake in Onto Innovation in the first quarter valued at approximately $28,000. LGT Financial Advisors LLC lifted its position in shares of Onto Innovation by 58.1% during the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company's stock worth $54,000 after purchasing an additional 90 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in Onto Innovation by 40.2% during the 2nd quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company's stock valued at $64,000 after purchasing an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company's stock.

Insider Buying and Selling at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of the business's stock in a transaction that occurred on 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

ONTO has been the subject of a number of analyst reports. Benchmark reissued a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday. Needham & Company LLC cut their price target on shares of Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a report on Friday. Oppenheimer lifted their target price on Onto Innovation from $260.00 to $275.00 and gave the stock an "outperform" rating in a research report on Friday. Jefferies Financial Group decreased their target price on Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a research note on Friday. Finally, 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. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $254.29.

Onto Innovation Stock Down 1.8 %

Shares of ONTO stock traded down $3.15 during trading hours on Monday, reaching $172.95. 1,319,600 shares of the company's stock were exchanged, compared to its average volume of 571,769. Onto Innovation Inc. has a fifty-two week low of $117.44 and a fifty-two week high of $238.93. The business has a fifty day moving average price of $202.50 and a 200-day moving average price of $206.86. The stock has a market capitalization of $8.54 billion, a P/E ratio of 48.22, a P/E/G ratio of 1.28 and a beta of 1.37.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.61%. The firm had revenue of $252.20 million during the quarter, compared to analyst estimates of $250.85 million. During the same quarter in the prior year, the business posted $0.96 earnings per share. The company's quarterly revenue was up 21.7% compared to the same quarter last year. As a group, research analysts expect that Onto Innovation Inc. will post 5.18 EPS for the current fiscal year.

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.