Onto Innovation (NYSE:ONTO) Trading Up 3.8%

Onto Innovation Inc. (NYSE:ONTO) shares were up 3.8% on Tuesday . The stock traded as high as $190.24 and last traded at $190.07. Approximately 224,104 shares changed hands during trading, a decline of 45% from the average daily volume of 408,741 shares. The stock had previously closed at $183.07.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ONTO shares. B. Riley raised their price target on shares of Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Evercore ISI initiated coverage on shares of Onto Innovation in a research note on Tuesday. They issued an “outperform” rating and a $235.00 target price for the company. StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. Stifel Nicolaus raised their target price on shares of Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Finally, Benchmark raised their target price on shares of Onto Innovation from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $191.60.

Onto Innovation Price Performance

The stock’s 50-day simple moving average is $180.61 and its 200 day simple moving average is $154.30. The stock has a market capitalization of $9.32 billion, a P/E ratio of 76.24 and a beta of 1.40.

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

Insider Transactions at Onto Innovation

In other news, CEO Michael P. Plisinski sold 40,000 shares of Onto Innovation stock in a transaction 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 completion of the sale, the chief executive officer now owns 235,492 shares of the company’s stock, valued at $41,324,136.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director David Brian Miller sold 2,800 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total value of $477,372.00. Following the completion of the transaction, the director now owns 9,008 shares of the company’s stock, valued at $1,535,773.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 completion of the transaction, the chief executive officer now directly owns 235,492 shares of the company’s stock, valued at approximately $41,324,136.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,170 shares of company stock valued at $8,266,955. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vontobel Holding Ltd. grew its position in Onto Innovation by 1.2% in the fourth quarter. Vontobel Holding Ltd. now owns 6,535 shares of the semiconductor company’s stock valued at $999,000 after acquiring an additional 75 shares during the last quarter. Stephens Inc. AR grew its position in Onto Innovation by 10.1% in the fourth quarter. Stephens Inc. AR now owns 840 shares of the semiconductor company’s stock valued at $128,000 after acquiring an additional 77 shares during the last quarter. Campbell Newman Asset Management Inc. grew its position in Onto Innovation by 0.4% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 18,538 shares of the semiconductor company’s stock valued at $2,834,000 after acquiring an additional 78 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in Onto Innovation by 3.4% in the third quarter. Integrated Wealth Concepts LLC now owns 2,554 shares of the semiconductor company’s stock valued at $326,000 after acquiring an additional 84 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Onto Innovation by 41.1% in the first quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 85 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

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.