Onto Innovation Inc. (NYSE:ONTO) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 9.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 79,557 shares of the semiconductor company’s stock after selling 7,922 shares during the period. California Public Employees Retirement System’s holdings in Onto Innovation were worth $13,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. Pictet Asset Management Holding SA boosted its holdings in shares of Onto Innovation by 11.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,953 shares of the semiconductor company’s stock valued at $1,159,000 after buying an additional 728 shares during the period. Norges Bank bought a new position in Onto Innovation in the fourth quarter worth about $87,987,000. JPMorgan Chase & Co. boosted its stake in Onto Innovation by 9.2% in the fourth quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company’s stock valued at $365,380,000 after acquiring an additional 183,839 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of Onto Innovation by 41.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company’s stock valued at $252,530,000 after purchasing an additional 444,860 shares during the last quarter. Finally, Summitry LLC raised its position in shares of Onto Innovation by 42.6% during the 4th quarter. Summitry LLC now owns 2,136 shares of the semiconductor company’s stock worth $356,000 after purchasing an additional 638 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analysts Set New Price Targets

ONTO has been the subject of a number of recent research reports. Stifel Nicolaus set a $200.00 price objective on Onto Innovation and gave the stock a “buy” rating in a research note on Friday, March 28th. Jefferies Financial Group dropped their price objective on shares of Onto Innovation from $245.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Benchmark reissued a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Oppenheimer cut their price target on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Onto Innovation currently has an average rating of “Moderate Buy” and a consensus target price of $231.88.

Insider Transactions at Onto Innovation

In other news, CEO Michael P. Plisinski sold 20,000 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total value of $4,003,800.00. Following the completion of the sale, the chief executive officer now directly owns 215,492 shares of the company’s stock, valued at $43,139,343.48. This represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Srinivas Vedula sold 827 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction of $169,535.00. Following the transaction, the senior vice president now directly owns 15,223 shares in the company, valued at $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,827 shares of company stock valued at $18,182,185 over the last quarter. Company insiders own 0.72% of the company’s stock.

Onto Innovation Price Performance

Shares of NYSE:ONTO opened at $104.63 on Friday. The stock’s 50 day moving average price is $154.44 and its 200 day moving average price is $176.13. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 0.89 and a beta of 1.29. Onto Innovation Inc. has a 12 month low of $98.21 and a 12 month high of $238.93.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. On average, sell-side analysts expect that Onto Innovation Inc. will post 6.26 EPS for the current 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.