Strs Ohio Has $4.36 Million Holdings in Onto Innovation Inc. (NYSE:ONTO)

Strs Ohio boosted its position in shares of Onto Innovation Inc. (NYSE:ONTO - Free Report) by 100.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,500 shares of the semiconductor company's stock after acquiring an additional 14,300 shares during the quarter. Strs Ohio owned 0.06% of Onto Innovation worth $4,357,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of ONTO. Vontobel Holding Ltd. boosted its holdings in Onto Innovation by 1.2% in the fourth quarter. Vontobel Holding Ltd. now owns 6,535 shares of the semiconductor company's stock valued at $999,000 after purchasing an additional 75 shares during the period. Campbell Newman Asset Management Inc. boosted its stake in shares of Onto Innovation by 0.4% in the 4th quarter. Campbell Newman Asset Management Inc. now owns 18,538 shares of the semiconductor company's stock valued at $2,834,000 after buying an additional 78 shares during the period. Integrated Wealth Concepts LLC grew its position in shares of Onto Innovation by 3.4% during the third quarter. Integrated Wealth Concepts LLC now owns 2,554 shares of the semiconductor company's stock worth $326,000 after buying an additional 84 shares in the last quarter. Huntington National Bank increased its stake 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 buying an additional 102 shares during the period. Finally, Fifth Third Bancorp raised its holdings in Onto Innovation by 198.3% in the fourth quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 115 shares in the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Onto Innovation Stock Performance

Shares of ONTO stock traded down $8.24 during mid-day trading on Friday, hitting $169.39. 606,373 shares of the stock were exchanged, compared to its average volume of 418,643. The stock's fifty day simple moving average is $182.01 and its two-hundred day simple moving average is $155.09. Onto Innovation Inc. has a 12-month low of $76.40 and a 12-month high of $199.72. The stock has a market capitalization of $8.32 billion, a price-to-earnings ratio of 69.10 and a beta of 1.40.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.99 by $0.07. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The firm had revenue of $219.00 million for the quarter, compared to the consensus estimate of $209.06 million. During the same quarter last year, the business posted $1.57 EPS. The firm's quarterly revenue was down 13.5% compared to the same quarter last year. On average, research analysts expect that Onto Innovation Inc. will post 4.7 earnings per share for the current fiscal year.

Insider Activity

In other news, Director David Brian Miller sold 2,800 shares of the company's stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total value of $477,372.00. Following the completion of the sale, the director now directly owns 9,008 shares of the company's stock, valued at $1,535,773.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Onto Innovation news, Director David Brian Miller sold 2,800 shares of Onto Innovation stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total value of $477,372.00. Following the transaction, the director now directly owns 9,008 shares in the company, valued at approximately $1,535,773.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael P. Plisinski sold 40,000 shares of the company's stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total value of $7,019,200.00. Following 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. Insiders have sold 47,170 shares of company stock valued at $8,266,955 in the last ninety days. 0.72% of the stock is currently owned by company insiders.

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.