Teachers Retirement System of The State of Kentucky Decreases Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

Teachers Retirement System of The State of Kentucky trimmed its holdings in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 29.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,739 shares of the semiconductor company's stock after selling 6,294 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Onto Innovation were worth $3,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ONTO. Envestnet Portfolio Solutions Inc. lifted its position in Onto Innovation by 98.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company's stock valued at $1,218,000 after acquiring an additional 2,753 shares in the last quarter. Public Employees Retirement Association of Colorado increased its holdings in Onto Innovation by 45.7% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 105,267 shares of the semiconductor company's stock worth $23,112,000 after buying an additional 33,025 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Onto Innovation by 287.0% during the third quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company's stock valued at $968,000 after purchasing an additional 3,458 shares during the last quarter. Swedbank AB lifted its position in Onto Innovation by 372.7% during the second quarter. Swedbank AB now owns 62,400 shares of the semiconductor company's stock valued at $13,701,000 after purchasing an additional 49,200 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Onto Innovation in the third quarter worth approximately $14,539,000. Institutional investors own 98.35% of the company's stock.

Onto Innovation Stock Performance

Shares of Onto Innovation stock traded up $0.64 during trading hours on Friday, hitting $167.09. The company's stock had a trading volume of 511,854 shares, compared to its average volume of 596,132. The company has a market cap of $8.25 billion, a PE ratio of 45.28, a PEG ratio of 1.07 and a beta of 1.30. The business has a 50 day moving average price of $183.14 and a two-hundred day moving average price of $198.60. Onto Innovation Inc. has a 12-month low of $134.11 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The business had revenue of $252.20 million during the quarter, compared to analyst estimates of $250.85 million. During the same period last year, the firm posted $0.96 EPS. The company's revenue was up 21.7% on a year-over-year basis. As a group, research analysts anticipate that Onto Innovation Inc. will post 5.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ONTO. Needham & Company LLC dropped their price target on Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Benchmark reaffirmed a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, November 1st. Oppenheimer raised their price objective on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Finally, Jefferies Financial Group cut their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $254.29.

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.