State of Alaska Department of Revenue Decreases Stock Holdings in Onto Innovation Inc. (NYSE:ONTO)

State of Alaska Department of Revenue decreased its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,635 shares of the semiconductor company’s stock after selling 75 shares during the quarter. State of Alaska Department of Revenue’s holdings in Onto Innovation were worth $939,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Mather Group LLC. increased its position in shares of Onto Innovation by 209.4% during the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 111 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Onto Innovation by 532.4% in the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 197 shares during the last quarter. Berbice Capital Management LLC purchased a new position in shares of Onto Innovation during the 4th quarter worth approximately $50,000. Eastern Bank acquired a new stake in Onto Innovation in the 3rd quarter valued at approximately $65,000. Finally, UMB Bank n.a. raised its position in Onto Innovation by 22.8% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock valued at $66,000 after purchasing an additional 74 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Insider Buying and Selling

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the transaction, the senior vice president now directly owns 15,223 shares in the company, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael P. Plisinski sold 35,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total value of $7,671,650.00. Following the completion of the transaction, the chief executive officer now owns 150,492 shares of the company’s stock, valued at $32,986,341.48. The trade was a 18.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock worth $18,182,185 in the last three months. Corporate insiders own 0.72% of the company’s stock.

Onto Innovation Price Performance

Shares of NYSE ONTO opened at $173.80 on Friday. The company has a market cap of $8.58 billion, a PE ratio of 42.81, a P/E/G ratio of 1.09 and a beta of 1.31. The stock has a fifty day moving average price of $186.30 and a 200 day moving average price of $189.75. Onto Innovation Inc. has a 1-year low of $145.15 and a 1-year high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. Onto Innovation had a return on equity of 14.41% and a net margin of 20.43%. Analysts anticipate that Onto Innovation Inc. will post 6.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ONTO has been the topic of several analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $275.00 target price on shares of Onto Innovation in a report on Tuesday, December 17th. Jefferies Financial Group cut their price target on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. StockNews.com cut Onto Innovation from a “hold” rating to a “sell” rating in a research report on Tuesday. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Onto Innovation has a consensus rating of “Moderate Buy” and an average price target of $251.25.

Onto Innovation 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.