Insider Selling: Onto Innovation Inc. (NYSE:ONTO) CEO Sells $6,337,200.00 in Stock

Onto Innovation Inc. (NYSE:ONTO) CEO Michael P. Plisinski sold 30,000 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $211.24, for a total transaction of $6,337,200.00. Following the completion of the sale, the chief executive officer now owns 185,492 shares of the company’s stock, valued at approximately $39,183,330.08. This represents a 13.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Onto Innovation Trading Down 3.6 %

NYSE:ONTO opened at $216.47 on Friday. The company has a market cap of $10.69 billion, a PE ratio of 58.66, a P/E/G ratio of 1.13 and a beta of 1.29. Onto Innovation Inc. has a twelve month low of $145.15 and a twelve month high of $238.93. The company’s 50 day moving average is $176.99 and its two-hundred day moving average is $191.81.

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

Wall Street Analysts Forecast Growth

ONTO has been the subject of several recent research reports. Oppenheimer restated an “outperform” rating and issued a $275.00 price target on shares of Onto Innovation in a report on Tuesday, December 17th. Cantor Fitzgerald initiated coverage on shares of Onto Innovation in a report on Monday, January 13th. They issued an “overweight” rating and a $250.00 price target for the company. Benchmark restated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a report 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 research report on Friday, November 1st. Finally, Needham & Company LLC cut their price objective on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $253.75.

Institutional Trading of Onto Innovation

Several large investors have recently bought and sold shares of the stock. Swedbank AB grew its position in Onto Innovation by 138.8% during the 4th quarter. Swedbank AB now owns 197,000 shares of the semiconductor company’s stock worth $32,834,000 after purchasing an additional 114,500 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Onto Innovation by 65.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 5,819 shares of the semiconductor company’s stock worth $970,000 after acquiring an additional 2,305 shares during the period. R Squared Ltd acquired a new stake in shares of Onto Innovation in the fourth quarter worth $108,000. Pacer Advisors Inc. increased its stake in shares of Onto Innovation by 104.7% in the fourth quarter. Pacer Advisors Inc. now owns 21,672 shares of the semiconductor company’s stock worth $3,612,000 after acquiring an additional 11,086 shares during the period. Finally, Hunter Perkins Capital Management LLC increased its stake in shares of Onto Innovation by 3.9% in the fourth quarter. Hunter Perkins Capital Management LLC now owns 2,415 shares of the semiconductor company’s stock worth $403,000 after acquiring an additional 90 shares during the period. Hedge funds and other 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.