Onto Innovation Inc. (NYSE:ONTO) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its stake in Onto Innovation Inc. (NYSE:ONTO) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 139,931 shares of the semiconductor company’s stock after selling 6,462 shares during the quarter. New York State Common Retirement Fund owned approximately 0.28% of Onto Innovation worth $23,322,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Cerity Partners LLC raised its stake in shares of Onto Innovation by 287.0% in the 3rd quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock valued at $968,000 after purchasing an additional 3,458 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Onto Innovation by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company’s stock valued at $173,401,000 after purchasing an additional 13,405 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Onto Innovation by 12.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock valued at $416,863,000 after purchasing an additional 228,800 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Onto Innovation in the 3rd quarter valued at about $14,539,000. Finally, Natixis Advisors LLC raised its stake in shares of Onto Innovation by 3.4% in the 3rd quarter. Natixis Advisors LLC now owns 253,600 shares of the semiconductor company’s stock valued at $52,637,000 after purchasing an additional 8,456 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ONTO. StockNews.com lowered shares of Onto Innovation from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. Oppenheimer dropped their price objective on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a research note on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Stifel Nicolaus dropped their price objective on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Finally, Benchmark reiterated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $246.88.

Insider Activity

In related news, SVP Srinivas Vedula sold 827 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction of $169,535.00. Following the completion of the sale, the senior vice president now directly owns 15,223 shares in the company, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael P. Plisinski sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $211.24, for a total transaction of $6,337,200.00. Following the sale, the chief executive officer now owns 185,492 shares of the company’s stock, valued at $39,183,330.08. The trade was a 13.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,827 shares of company stock worth $18,182,185 over the last three months. Corporate insiders own 0.72% of the company’s stock.

Onto Innovation Trading Down 4.7 %

NYSE ONTO opened at $159.23 on Friday. Onto Innovation Inc. has a 52 week low of $145.15 and a 52 week high of $238.93. The stock has a market cap of $7.86 billion, a price-to-earnings ratio of 39.22, a price-to-earnings-growth ratio of 0.90 and a beta of 1.31. The company has a 50-day moving average price of $187.06 and a two-hundred day moving average price of $189.46.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. As a group, equities research analysts expect that Onto Innovation Inc. will post 6.32 earnings per share for the current fiscal year.

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.