Teachers Retirement System of The State of Kentucky Cuts Position in Onto Innovation Inc. (NYSE:ONTO)

Teachers Retirement System of The State of Kentucky decreased its position in Onto Innovation Inc. (NYSE:ONTO) by 29.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,739 shares of the semiconductor company’s stock after selling 6,294 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Onto Innovation were worth $3,059,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ONTO. Quarry LP raised its holdings in shares of Onto Innovation by 232.4% in the 2nd 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 holdings in Onto Innovation by 675.0% in the second 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 during the last quarter. LGT Financial Advisors LLC raised its stake in Onto Innovation by 58.1% in 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 in the last quarter. Fifth Third Bancorp raised its stake in Onto Innovation by 40.2% in the second quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock valued at $64,000 after buying an additional 84 shares in the last quarter. Finally, Eastern Bank purchased a new stake in Onto Innovation during the 3rd quarter worth about $65,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on ONTO shares. Benchmark reiterated a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, November 1st. Needham & Company LLC dropped their price target on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Jefferies Financial Group cut their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, Oppenheimer upped their target price on shares of Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.29.

Onto Innovation Trading Up 0.4 %

Shares of NYSE ONTO opened at $167.09 on Friday. The stock has a market cap of $8.25 billion, a P/E ratio of 45.28, a P/E/G ratio of 1.07 and a beta of 1.30. Onto Innovation Inc. has a twelve month low of $134.11 and a twelve month high of $238.93. The stock has a 50 day moving average of $183.14 and a two-hundred day moving average of $198.60.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The firm had revenue of $252.20 million during the quarter, compared to the consensus estimate of $250.85 million. During the same quarter in the prior year, the firm earned $0.96 EPS. Onto Innovation’s revenue for the quarter was up 21.7% on a year-over-year basis. As a group, research analysts predict that Onto Innovation Inc. will post 5.22 earnings per share for the current year.

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.