California State Teachers Retirement System Boosts Holdings in Onto Innovation Inc. $ONTO

California State Teachers Retirement System raised its holdings in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 1.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,731 shares of the semiconductor company's stock after purchasing an additional 956 shares during the quarter. California State Teachers Retirement System owned 0.12% of Onto Innovation worth $21,848,297 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Andar Capital Management HK Ltd acquired a new stake in shares of Onto Innovation in the second quarter valued at $69,000,000. BlackRock Inc. bought a new position in shares of Onto Innovation in the second quarter worth $2,083,436,000. Franklin Resources Inc. boosted its position in shares of Onto Innovation by 21.4% in the fourth quarter. Franklin Resources Inc. now owns 1,353,001 shares of the semiconductor company's stock worth $213,585,000 after buying an additional 238,500 shares during the period. Geode Capital Management LLC boosted its holdings in Onto Innovation by 45.4% during the fourth quarter. Geode Capital Management LLC now owns 1,127,532 shares of the semiconductor company's stock valued at $178,024,000 after acquiring an additional 352,316 shares during the period. Finally, Paradigm Capital Management Inc. NY acquired a new stake in shares of Onto Innovation in the 2nd quarter valued at $416,839,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ONTO has been the topic of several research reports. Needham & Company LLC upped their price target on shares of Onto Innovation from $330.00 to $360.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Weiss Ratings raised Onto Innovation from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 21st. Evercore restated an "outperform" rating and issued a $390.00 price objective on shares of Onto Innovation in a research report on Friday, August 7th. Freedom Capital raised shares of Onto Innovation to a "strong-buy" rating in a research report on Wednesday, June 17th. Finally, Morgan Stanley lowered their price target on shares of Onto Innovation from $383.00 to $360.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $378.00.

Insider Activity

In related news, Director Susan Lynch sold 1,000 shares of the business's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $302.30, for a total transaction of $302,300.00. Following the completion of the sale, the director directly owned 2,684 shares in the company, valued at approximately $811,373.20. The trade was a 27.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.51% of the stock is currently owned by corporate insiders.

Onto Innovation Stock Performance

ONTO traded down $8.86 during trading on Tuesday, reaching $241.28. 893,286 shares of the company's stock were exchanged, compared to its average volume of 1,065,810. The business has a 50 day moving average price of $286.21 and a 200 day moving average price of $270.56. The company has a market capitalization of $11.84 billion, a P/E ratio of 90.60, a PEG ratio of 0.92 and a beta of 1.59. Onto Innovation Inc. has a fifty-two week low of $111.99 and a fifty-two week high of $386.46. The company has a quick ratio of 8.33, a current ratio of 9.73 and a debt-to-equity ratio of 0.77.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.69 by $0.24. Onto Innovation had a return on equity of 13.44% and a net margin of 11.84%.The company had revenue of $343.13 million during the quarter, compared to analysts' expectations of $325.29 million. During the same period last year, the firm posted $1.25 earnings per share. The business's revenue was up 35.3% on a year-over-year basis. Onto Innovation has set its Q3 2026 guidance at 2.180-2.380 EPS. As a group, analysts predict that Onto Innovation Inc. will post 8.04 earnings per share for the current fiscal year.

Onto Innovation Profile

Onto Innovation Inc NYSE: ONTO develops process control, inspection, metrology and lithography systems used in the semiconductor and advanced packaging industries. Its technologies help chip manufacturers monitor and improve processes throughout wafer fabrication, packaging and other stages of production.

The company's products include optical metrology systems, wafer and macro-defect inspection tools, three-dimensional metrology solutions, lithography systems and process-control software.

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