New York State Teachers Retirement System Trims Holdings in Onto Innovation Inc. (NYSE:ONTO)

New York State Teachers Retirement System cut its position in Onto Innovation Inc. (NYSE:ONTO - Free Report) by 12.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 69,891 shares of the semiconductor company's stock after selling 9,984 shares during the period. New York State Teachers Retirement System owned about 0.14% of Onto Innovation worth $10,686,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp increased its position in shares of 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 acquiring an additional 115 shares in the last quarter. Contravisory Investment Management Inc. bought a new stake in shares of Onto Innovation during the fourth quarter worth $28,000. Huntington National Bank increased its position in shares of 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 acquiring an additional 102 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of 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 acquiring an additional 175 shares in the last quarter. Finally, Operose Advisors LLC bought a new stake in shares of Onto Innovation during the third quarter worth $49,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Onto Innovation

In other news, CEO Michael P. Plisinski sold 40,000 shares of the firm's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the completion of the sale, the chief executive officer now owns 235,492 shares in the company, valued at approximately $41,324,136.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Onto Innovation news, VP Yoon Ah Oh sold 2,685 shares of Onto Innovation stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $173.96, for a total value of $467,082.60. Following the completion of the sale, the vice president now owns 16,598 shares in the company, valued at approximately $2,887,388.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael P. Plisinski sold 40,000 shares of Onto Innovation stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the completion of the sale, the chief executive officer now owns 235,492 shares of the company's stock, valued at approximately $41,324,136.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,170 shares of company stock worth $8,266,955. 0.81% of the stock is owned by insiders.

Onto Innovation Price Performance

ONTO stock traded up $7.02 during trading hours on Thursday, reaching $191.35. The stock had a trading volume of 250,469 shares, compared to its average volume of 414,738. The stock has a market capitalization of $9.40 billion, a PE ratio of 77.78 and a beta of 1.40. The stock has a 50-day simple moving average of $179.91 and a 200 day simple moving average of $153.11. 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 announced its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.07. The firm had revenue of $219.00 million during the quarter, compared to analysts' expectations of $209.06 million. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The company's revenue for the quarter was down 13.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.57 earnings per share. On average, sell-side analysts forecast that Onto Innovation Inc. will post 4.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ONTO. 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 report on Friday, February 9th. 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 report on Friday, February 9th. Stifel Nicolaus raised their target price on shares of Onto Innovation from $188.00 to $215.00 and gave the company a "buy" rating in a research report on Monday, March 25th. Finally, StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a research report on Monday, February 12th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.