New York State Teachers Retirement System Sells 4,100 Shares of Onto Innovation Inc. (NYSE:ONTO)

New York State Teachers Retirement System reduced its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 6.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 55,491 shares of the semiconductor company's stock after selling 4,100 shares during the period. New York State Teachers Retirement System owned 0.11% of Onto Innovation worth $6,733,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB boosted its holdings in Onto Innovation by 177.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company's stock worth $29,000 after buying an additional 151 shares during the last quarter. Johnson Financial Group Inc. bought a new position in Onto Innovation during the fourth quarter worth about $38,000. SBI Securities Co. Ltd. bought a new position in Onto Innovation during the fourth quarter worth about $43,000. Aster Capital Management DIFC Ltd bought a new position in Onto Innovation during the fourth quarter worth about $47,000. Finally, Versant Capital Management Inc boosted its holdings in Onto Innovation by 165.0% during the first quarter. Versant Capital Management Inc now owns 620 shares of the semiconductor company's stock worth $75,000 after buying an additional 386 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Stifel Nicolaus reduced their target price on Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Needham & Company LLC reduced their target price on Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Oppenheimer decreased their target price on Onto Innovation from $150.00 to $130.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Wall Street Zen raised Onto Innovation from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. Finally, Cantor Fitzgerald decreased their target price on Onto Innovation from $110.00 to $90.00 and set a "neutral" rating for the company in a research note on Tuesday, June 24th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Onto Innovation currently has a consensus rating of "Moderate Buy" and a consensus target price of $141.67.

Onto Innovation Trading Down 0.5%

Shares of ONTO stock traded down $0.55 on Wednesday, hitting $102.79. 1,021,346 shares of the stock were exchanged, compared to its average volume of 979,810. The firm has a market capitalization of $5.02 billion, a P/E ratio of 23.26, a price-to-earnings-growth ratio of 0.67 and a beta of 1.45. The business has a 50-day moving average of $100.63 and a 200 day moving average of $137.41. Onto Innovation Inc. has a fifty-two week low of $85.88 and a fifty-two week high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.04. Onto Innovation had a return on equity of 14.85% and a net margin of 21.36%. The company had revenue of $267.00 million during the quarter, compared to analysts' expectations of $267.03 million. During the same period in the prior year, the firm earned $1.18 earnings per share. Onto Innovation's revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, research analysts forecast that Onto Innovation Inc. will post 6.26 EPS for the current fiscal 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.