New Mexico Educational Retirement Board Invests $1.54 Million in Onto Innovation Inc. (NYSE:ONTO)

New Mexico Educational Retirement Board acquired a new stake in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,100 shares of the semiconductor company's stock, valued at approximately $1,544,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Fifth Third Bancorp raised its stake in Onto Innovation by 198.3% during the fourth quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 115 shares during the period. Contravisory Investment Management Inc. purchased a new position in Onto Innovation during the fourth quarter worth approximately $28,000. Huntington National Bank raised its stake in Onto Innovation by 70.3% during the third quarter. Huntington National Bank now owns 247 shares of the semiconductor company's stock worth $31,000 after purchasing an additional 102 shares during the period. Public Employees Retirement System of Ohio raised its stake in Onto Innovation by 51.3% during the third quarter. Public Employees Retirement System of Ohio now owns 516 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 175 shares during the period. Finally, Operose Advisors LLC purchased a new position in Onto Innovation during the third quarter worth approximately $49,000. Hedge funds and other institutional investors own 98.35% of the company's stock.

Onto Innovation Price Performance

ONTO traded up $4.22 during trading hours on Monday, reaching $185.30. 301,634 shares of the stock traded hands, compared to its average volume of 420,792. The firm's fifty day simple moving average is $176.10 and its two-hundred day simple moving average is $149.91. The company has a market cap of $9.10 billion, a price-to-earnings ratio of 75.33 and a beta of 1.40. Onto Innovation Inc. has a fifty-two week low of $76.40 and a fifty-two week high of $199.72.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.07. The business had revenue of $219.00 million during the quarter, compared to analyst estimates of $209.06 million. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The business's revenue was down 13.5% on a year-over-year basis. During the same period last year, the business earned $1.57 EPS. On average, research analysts predict that Onto Innovation Inc. will post 4.7 earnings per share for the current year.

Insider Activity at Onto Innovation

In other Onto Innovation news, VP Yoon Ah Oh sold 2,685 shares of the firm's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $173.96, for a total transaction of $467,082.60. Following the completion of the transaction, the vice president now directly owns 16,598 shares of the company's stock, valued at approximately $2,887,388.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Onto Innovation news, Director David Brian Miller sold 2,800 shares of the firm's stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total transaction of $477,372.00. Following the completion of the transaction, the director now directly owns 9,008 shares of the company's stock, valued at approximately $1,535,773.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Yoon Ah Oh sold 2,685 shares of the firm's stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $173.96, for a total transaction of $467,082.60. Following the completion of the transaction, the vice president now owns 16,598 shares in the company, valued at $2,887,388.08. The disclosure for this sale can be found here. In the last three months, insiders sold 47,170 shares of company stock valued at $8,266,955. Corporate insiders own 0.81% of the company's stock.

Analyst Ratings Changes

ONTO has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price target on shares of Onto Innovation from $188.00 to $215.00 and gave the stock a "buy" rating in a research note on Monday, March 25th. StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Monday, February 12th. Benchmark raised their target price on shares of Onto Innovation from $145.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, February 9th. Finally, B. Riley raised their target price on shares of Onto Innovation from $195.00 to $205.00 and gave the company a "buy" rating in a research note on Friday, February 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $180.75.

About Onto Innovation

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.