Louisiana State Employees Retirement System Takes Position in Onto Innovation Inc. (NYSE:ONTO)

Louisiana State Employees Retirement System bought a new stake in Onto Innovation Inc. (NYSE:ONTO - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 13,800 shares of the semiconductor company's stock, valued at approximately $2,110,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC grew its position in Onto Innovation by 14,819.4% in the 4th quarter. International Assets Investment Management LLC now owns 615,575 shares of the semiconductor company's stock worth $94,121,000 after purchasing an additional 611,449 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Onto Innovation by 55.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,666,438 shares of the semiconductor company's stock worth $116,217,000 after acquiring an additional 592,920 shares during the period. Invesco Ltd. lifted its holdings in shares of Onto Innovation by 113.7% during the 3rd quarter. Invesco Ltd. now owns 1,074,877 shares of the semiconductor company's stock worth $137,068,000 after acquiring an additional 571,917 shares during the period. Norges Bank bought a new position in shares of Onto Innovation during the 4th quarter worth about $33,441,000. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Onto Innovation by 572.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 527,016 shares of the semiconductor company's stock worth $6,392,000 after acquiring an additional 448,591 shares during the period. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Stock Performance

Shares of NYSE ONTO traded down $4.24 during trading on Thursday, reaching $177.70. The company had a trading volume of 692,661 shares, compared to its average volume of 416,138. Onto Innovation Inc. has a 52 week low of $76.40 and a 52 week high of $199.72. The stock has a market cap of $8.73 billion, a PE ratio of 72.24 and a beta of 1.40. The business's 50 day moving average price is $182.01 and its 200-day moving average price is $155.09.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.07. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The company had revenue of $219.00 million during the quarter, compared to the consensus estimate of $209.06 million. During the same period in the previous year, the firm posted $1.57 earnings per share. The company's revenue was down 13.5% on a year-over-year basis. Equities analysts anticipate that Onto Innovation Inc. will post 4.7 earnings per share for the current year.

Insider Transactions at Onto Innovation

In other news, Director David Brian Miller sold 2,800 shares of Onto Innovation stock in a transaction that occurred 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 sale, the director now owns 9,008 shares in the company, valued at approximately $1,535,773.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Yoon Ah Oh sold 2,685 shares of the business's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $173.96, for a total value of $467,082.60. Following the sale, the vice president now directly owns 16,598 shares of the company's stock, valued at approximately $2,887,388.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Brian Miller sold 2,800 shares of the business'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 sale, the director now directly owns 9,008 shares in the company, valued at $1,535,773.92. The disclosure for this sale can be found here. Insiders sold a total of 47,170 shares of company stock worth $8,266,955 in the last quarter. 0.72% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on ONTO shares. B. Riley raised their price objective on shares of Onto Innovation from $195.00 to $205.00 and gave the stock a "buy" rating in a report on Friday, February 9th. Benchmark raised their price objective on shares of Onto Innovation from $145.00 to $180.00 and gave the stock a "buy" rating in a report on Friday, February 9th. Evercore ISI started coverage on shares of Onto Innovation in a report on Tuesday. They set an "outperform" rating and a $235.00 price target for the company. Stifel Nicolaus lifted their price target on shares of Onto Innovation from $188.00 to $215.00 and gave the company a "buy" rating in a report on Monday, March 25th. Finally, StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a report on Monday, February 12th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Onto Innovation currently has an average rating of "Moderate Buy" and a consensus price target of $191.60.

Onto Innovation Company 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.