State of Alaska Department of Revenue Purchases 385 Shares of Onto Innovation Inc. (NYSE:ONTO)

State of Alaska Department of Revenue lifted its holdings in Onto Innovation Inc. (NYSE:ONTO) by 7.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,710 shares of the semiconductor company’s stock after acquiring an additional 385 shares during the period. State of Alaska Department of Revenue’s holdings in Onto Innovation were worth $1,185,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Millennium Management LLC grew its holdings in Onto Innovation by 304.9% in the second quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company’s stock worth $98,329,000 after purchasing an additional 337,250 shares during the period. Natixis Advisors LLC grew its stake in shares of Onto Innovation by 379.8% in the 2nd quarter. Natixis Advisors LLC now owns 245,144 shares of the semiconductor company’s stock valued at $53,824,000 after buying an additional 194,056 shares during the period. Massachusetts Financial Services Co. MA increased its position in Onto Innovation by 28.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock valued at $188,115,000 after buying an additional 189,769 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Onto Innovation during the 3rd quarter worth approximately $30,418,000. Finally, Los Angeles Capital Management LLC boosted its holdings in Onto Innovation by 6,707.0% in the second quarter. Los Angeles Capital Management LLC now owns 116,332 shares of the semiconductor company’s stock worth $25,542,000 after acquiring an additional 114,623 shares in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group lowered their target price on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday. Oppenheimer upped their price objective on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a report on Friday. Benchmark reiterated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday. Needham & Company LLC decreased their price target on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a report on Friday. Finally, Stifel Nicolaus lifted their price objective on shares of Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 15th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $254.29.

Onto Innovation Price Performance

Shares of NYSE:ONTO opened at $172.95 on Tuesday. Onto Innovation Inc. has a 1 year low of $117.44 and a 1 year high of $238.93. The company has a market capitalization of $8.54 billion, a PE ratio of 46.87, a price-to-earnings-growth ratio of 1.28 and a beta of 1.37. The business has a fifty day moving average price of $201.79 and a two-hundred day moving average price of $206.82.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. The business had revenue of $252.20 million during the quarter, compared to the consensus estimate of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.61%. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.96 earnings per share. Sell-side analysts anticipate that Onto Innovation Inc. will post 5.18 earnings per share for the current year.

Insider Activity at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total transaction of $264,231.00. Following the completion of the transaction, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is owned by company insiders.

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.