Onto Innovation (NYSE:ONTO) Reaches New 12-Month High at $204.10

Onto Innovation Inc. (NYSE:ONTO) reached a new 52-week high during trading on Friday . The stock traded as high as $204.10 and last traded at $201.25, with a volume of 119914 shares trading hands. The stock had previously closed at $195.71.

Wall Street Analyst Weigh In

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

Onto Innovation Price Performance

The firm has a market capitalization of $9.87 billion, a P/E ratio of 81.63 and a beta of 1.40. The firm has a 50-day moving average price of $183.42 and a two-hundred day moving average price of $158.42.

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

Insider Activity

In other news, Director David Brian Miller sold 2,800 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total transaction of $477,372.00. Following the transaction, the director now directly owns 9,008 shares in the company, valued at $1,535,773.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director David Brian Miller sold 2,800 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total transaction of $477,372.00. Following the transaction, the director now directly owns 9,008 shares in the company, valued at $1,535,773.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Yoon Ah Oh sold 2,685 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $173.96, for a total transaction of $467,082.60. Following the completion of the sale, the vice president now owns 16,598 shares of the company’s stock, valued at $2,887,388.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,170 shares of company stock worth $8,266,955. Company insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Onto Innovation

Several institutional investors have recently bought and sold shares of the company. Fidelis Capital Partners LLC purchased a new position in shares of Onto Innovation in the first quarter worth $28,000. Fifth Third Bancorp raised its holdings in shares of Onto Innovation by 198.3% during the fourth quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 115 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in shares of Onto Innovation during the fourth quarter worth $28,000. GAMMA Investing LLC purchased a new position in shares of Onto Innovation during the fourth quarter worth $33,000. Finally, Rise Advisors LLC purchased a new position in shares of Onto Innovation during the first quarter worth $38,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

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.