Teachers Retirement System of The State of Kentucky Has $2.33 Million Holdings in Onto Innovation Inc. (NYSE:ONTO)

Teachers Retirement System of The State of Kentucky lifted its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 37.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,203 shares of the semiconductor company's stock after acquiring an additional 5,234 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Onto Innovation were worth $2,330,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ONTO. MassMutual Private Wealth & Trust FSB grew its holdings in shares of 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 in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Onto Innovation by 79.4% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 244 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 108 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Onto Innovation by 3,700.0% during the first quarter. Larson Financial Group LLC now owns 266 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 259 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Onto Innovation in the fourth quarter valued at $38,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Onto Innovation in the fourth quarter valued at $47,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Price Performance

Onto Innovation stock traded up $1.06 during trading hours on Thursday, hitting $98.23. The company had a trading volume of 1,102,579 shares, compared to its average volume of 989,273. Onto Innovation Inc. has a fifty-two week low of $85.88 and a fifty-two week high of $228.42. The firm has a market capitalization of $4.80 billion, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 0.63 and a beta of 1.45. The firm's fifty day moving average is $97.82 and its 200-day moving average is $131.76.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Stifel Nicolaus decreased their price target on shares of Onto Innovation from $200.00 to $180.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Jefferies Financial Group set a $110.00 price target on shares of Onto Innovation and gave the company a "hold" rating in a research report on Tuesday, May 20th. Needham & Company LLC cut their target price on shares of Onto Innovation from $230.00 to $150.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Oppenheimer decreased their price target on shares of Onto Innovation from $150.00 to $130.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Finally, Wall Street Zen upgraded Onto Innovation from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $141.67.

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.