Teacher Retirement System of Texas Raises Holdings in Onto Innovation Inc. (NYSE:ONTO)

Teacher Retirement System of Texas lifted its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 28.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,683 shares of the semiconductor company's stock after buying an additional 4,762 shares during the quarter. Teacher Retirement System of Texas' holdings in Onto Innovation were worth $3,614,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ONTO. JPMorgan Chase & Co. lifted its position in shares of Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company's stock valued at $416,863,000 after acquiring an additional 228,800 shares in the last quarter. State Street Corp lifted its holdings in Onto Innovation by 2.8% in the 3rd quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company's stock worth $305,107,000 after purchasing an additional 39,367 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Onto Innovation by 4.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company's stock worth $288,320,000 after purchasing an additional 54,868 shares in the last quarter. Geneva Capital Management LLC boosted its stake in Onto Innovation by 7.6% in the 4th quarter. Geneva Capital Management LLC now owns 1,010,691 shares of the semiconductor company's stock worth $168,452,000 after purchasing an additional 71,050 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Onto Innovation by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company's stock valued at $173,401,000 after buying an additional 13,405 shares in the last quarter. Institutional investors own 98.35% of the company's stock.

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Insiders Place Their Bets

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the company's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the sale, the senior vice president now directly owns 15,223 shares in the company, valued at approximately $3,120,715. This represents a 5.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael P. Plisinski sold 35,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total value of $7,671,650.00. Following the transaction, the chief executive officer now directly owns 150,492 shares in the company, valued at $32,986,341.48. The trade was a 18.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,827 shares of company stock worth $18,182,185 over the last quarter. Company insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Onto Innovation from a "sell" rating to a "hold" rating in a research report on Thursday, February 27th. Oppenheimer dropped their price objective on shares of Onto Innovation from $275.00 to $240.00 and set an "outperform" rating for the company in a report on Thursday, February 20th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $250.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Needham & Company LLC reiterated a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Jefferies Financial Group cut their price target on Onto Innovation from $245.00 to $175.00 and set a "buy" rating for the company in a report on Friday. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $231.88.

Onto Innovation Trading Down 5.0 %

Shares of ONTO stock traded down $6.43 during trading hours on Friday, reaching $121.99. 979,804 shares of the stock were exchanged, compared to its average volume of 737,240. The firm has a market capitalization of $6.01 billion, a price-to-earnings ratio of 30.05, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a 12-month low of $120.20 and a 12-month high of $238.93. The company's 50-day moving average price is $166.46 and its 200-day moving average price is $179.24.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. On average, sell-side analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current year.

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.