Public Employees Retirement Association of Colorado Acquires 33,025 Shares of Onto Innovation Inc. (NYSE:ONTO)

Public Employees Retirement Association of Colorado lifted its holdings in Onto Innovation Inc. (NYSE:ONTO) by 45.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 105,267 shares of the semiconductor company’s stock after buying an additional 33,025 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Onto Innovation were worth $23,112,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ONTO. Norges Bank bought a new stake in shares of Onto Innovation during the fourth quarter worth $89,785,000. Price T Rowe Associates Inc. MD lifted its holdings in Onto Innovation by 64.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 946,879 shares of the semiconductor company’s stock valued at $144,779,000 after buying an additional 371,641 shares in the last quarter. Natixis Advisors LLC boosted its position in 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 grew its stake 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 worth $188,115,000 after acquiring an additional 189,769 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Onto Innovation by 58.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 470,059 shares of the semiconductor company’s stock worth $85,118,000 after acquiring an additional 174,010 shares in the last quarter. 98.35% of the stock is owned by institutional investors.

Insider Transactions at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total transaction of $264,231.00. Following the completion of the sale, the senior vice president now owns 16,050 shares of the company’s stock, valued at $3,326,202. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

ONTO has been the subject of a number of research reports. Benchmark reiterated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, August 9th. Stifel Nicolaus upped their target price on Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 15th. B. Riley raised their price target on Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Finally, Needham & Company LLC upgraded Onto Innovation from a “hold” rating to a “buy” rating in a report on Monday, August 19th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Onto Innovation has an average rating of “Moderate Buy” and an average target price of $259.00.

Onto Innovation Trading Down 1.6 %

Shares of NYSE ONTO opened at $199.90 on Friday. The stock has a market capitalization of $9.85 billion, a PE ratio of 71.14 and a beta of 1.37. Onto Innovation Inc. has a 12-month low of $108.98 and a 12-month high of $238.93. The stock’s fifty day simple moving average is $196.52 and its two-hundred day simple moving average is $201.74.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.12. The company had revenue of $242.33 million for the quarter, compared to the consensus estimate of $235.43 million. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The firm’s revenue for the quarter was up 27.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 earnings per share. On average, equities analysts predict that Onto Innovation Inc. will post 5.18 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.