Louisiana State Employees Retirement System Sells 200 Shares of Onto Innovation Inc. (NYSE:ONTO)

Louisiana State Employees Retirement System reduced its holdings in shares of Onto Innovation Inc. (NYSE:ONTO) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,700 shares of the semiconductor company’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Onto Innovation were worth $2,844,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ONTO. Quarry LP increased its stake in shares of Onto Innovation by 232.4% during the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Onto Innovation by 675.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 108 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in Onto Innovation during the first quarter valued at $28,000. LGT Financial Advisors LLC raised its stake in Onto Innovation by 58.1% during the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 90 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Onto Innovation by 40.2% in the second quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock worth $64,000 after acquiring an additional 84 shares in the last quarter. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Price Performance

Shares of Onto Innovation stock opened at $204.39 on Monday. The stock has a market capitalization of $10.07 billion, a PE ratio of 72.74, a P/E/G ratio of 1.32 and a beta of 1.36. Onto Innovation Inc. has a 1-year low of $108.98 and a 1-year high of $238.93. The company’s fifty day simple moving average is $203.78 and its 200-day simple moving average is $206.23.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.20 by $0.12. The firm 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 business’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. As a group, research analysts anticipate that Onto Innovation Inc. will post 5.18 EPS for the current year.

Insider Buying and Selling at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of the firm’s stock in a transaction 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 sale, the senior vice president now directly owns 16,050 shares in the company, valued at $3,326,202. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Oppenheimer upped their price target on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Stifel Nicolaus upped their price target on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 15th. Benchmark restated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, August 9th. Finally, Needham & Company LLC upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a research report on Monday, August 19th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $261.67.

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.