Illinois Municipal Retirement Fund Sells 24,314 Shares of Onto Innovation Inc. (NYSE:ONTO)

Illinois Municipal Retirement Fund lessened its position in Onto Innovation Inc. (NYSE:ONTO) by 83.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,865 shares of the semiconductor company’s stock after selling 24,314 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Onto Innovation were worth $744,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp raised its holdings in Onto Innovation by 198.3% in the 4th quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 115 shares during the period. Contravisory Investment Management Inc. bought a new position in shares of Onto Innovation during the 4th quarter worth about $28,000. Huntington National Bank increased its holdings in shares of Onto Innovation by 70.3% during the 3rd quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 102 shares during the period. Operose Advisors LLC bought a new position in shares of Onto Innovation during the 3rd quarter worth about $49,000. Finally, Lindbrook Capital LLC increased its holdings in shares of Onto Innovation by 188.5% during the 4th quarter. Lindbrook Capital LLC now owns 577 shares of the semiconductor company’s stock worth $88,000 after purchasing an additional 377 shares during the period. Institutional investors own 98.35% of the company’s stock.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, CEO Michael P. Plisinski sold 40,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total value of $7,019,200.00. Following the transaction, the chief executive officer now directly owns 235,492 shares in the company, valued at $41,324,136.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, VP Yoon Ah Oh sold 1,685 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $180.00, for a total transaction of $303,300.00. Following the transaction, the vice president now directly owns 14,913 shares in the company, valued at $2,684,340. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael P. Plisinski sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the transaction, the chief executive officer now owns 235,492 shares in the company, valued at $41,324,136.16. The disclosure for this sale can be found here. Insiders have sold a total of 47,170 shares of company stock worth $8,266,955 over the last ninety days. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

ONTO has been the topic of several research reports. Evercore ISI initiated coverage on shares of Onto Innovation in a report on Tuesday, April 16th. They set an “outperform” rating and a $235.00 price objective on the stock. Stifel Nicolaus boosted their price objective on shares of Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, March 25th. Benchmark boosted their price objective on shares of Onto Innovation from $145.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, February 9th. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Finally, B. Riley boosted their price objective on shares of Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Onto Innovation presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.60.

Onto Innovation Stock Performance

Shares of Onto Innovation stock opened at $190.22 on Tuesday. The firm’s 50-day simple moving average is $182.39 and its 200-day simple moving average is $157.63. Onto Innovation Inc. has a twelve month low of $80.17 and a twelve month high of $199.72. The firm has a market cap of $9.35 billion, a P/E ratio of 77.33 and a beta of 1.40.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.07. The business had revenue of $219.00 million for the quarter, compared to analyst estimates of $209.06 million. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The firm’s revenue was down 13.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.57 EPS. On average, equities analysts forecast that Onto Innovation Inc. will post 4.7 earnings per share for the current fiscal year.

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.