Onto Innovation (NYSE:ONTO) Trading Down 3.2%

Onto Innovation Inc. (NYSE:ONTO) traded down 3.2% on Friday . The stock traded as low as $171.46 and last traded at $171.98. 119,616 shares were traded during mid-day trading, a decline of 71% from the average session volume of 411,818 shares. The stock had previously closed at $177.63.

Wall Street Analyst Weigh In

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

Onto Innovation Trading Down 4.6 %

The firm has a 50 day simple moving average of $182.01 and a 200 day simple moving average of $155.09. The firm has a market capitalization of $8.32 billion, a PE ratio of 69.10 and a beta of 1.40.

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

Insider Transactions at Onto Innovation

In related 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 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 Securities & Exchange Commission, which is available through the SEC website. In other Onto Innovation news, CEO Michael P. Plisinski sold 40,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly 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 SEC, which is available through this hyperlink. Also, VP Yoon Ah Oh sold 2,685 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $173.96, for a total value of $467,082.60. Following the sale, the vice president now directly owns 16,598 shares in the company, valued at $2,887,388.08. 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 in the last ninety days. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Onto Innovation

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in shares of Onto Innovation by 7.5% in the first quarter. JPMorgan Chase & Co. now owns 84,116 shares of the semiconductor company’s stock worth $7,310,000 after purchasing an additional 5,850 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Onto Innovation by 5.4% in the first quarter. Citigroup Inc. now owns 52,277 shares of the semiconductor company’s stock worth $4,543,000 after purchasing an additional 2,697 shares during the last quarter. AlphaCrest Capital Management LLC increased its holdings in shares of Onto Innovation by 88.7% in the first quarter. AlphaCrest Capital Management LLC now owns 3,963 shares of the semiconductor company’s stock worth $344,000 after purchasing an additional 1,863 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Onto Innovation by 23.3% in the first quarter. Bank of Montreal Can now owns 15,977 shares of the semiconductor company’s stock worth $1,392,000 after purchasing an additional 3,015 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of Onto Innovation by 55.5% in the first quarter. MetLife Investment Management LLC now owns 26,215 shares of the semiconductor company’s stock worth $2,278,000 after purchasing an additional 9,352 shares during the last quarter. 98.35% of the stock is owned by institutional investors.

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.