Onto Innovation Inc. (NYSE:ONTO) CEO Michael P. Plisinski Sells 20,000 Shares

Onto Innovation Inc. (NYSE:ONTO) CEO Michael P. Plisinski sold 20,000 shares of Onto Innovation stock in a transaction dated Tuesday, January 14th. The stock was 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 owns 215,492 shares in the company, valued at approximately $43,139,343.48. The trade was a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Onto Innovation Stock Up 4.4 %

NYSE:ONTO traded up $8.98 on Thursday, hitting $213.65. The stock had a trading volume of 920,970 shares, compared to its average volume of 754,035. The company has a fifty day moving average price of $172.50 and a two-hundred day moving average price of $192.05. Onto Innovation Inc. has a 1-year low of $141.79 and a 1-year high of $238.93. The stock has a market cap of $10.55 billion, a price-to-earnings ratio of 57.90, a PEG ratio of 0.98 and a beta of 1.29.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Quarry LP increased its holdings in Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 79 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Onto Innovation by 675.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after buying an additional 108 shares during the period. Versant Capital Management Inc boosted its position in shares of Onto Innovation by 532.4% during the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after buying an additional 197 shares during the period. Eastern Bank acquired a new stake in shares of Onto Innovation in the third quarter valued at $65,000. Finally, UMB Bank n.a. raised its holdings in shares of Onto Innovation by 62.0% in the 3rd quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock valued at $67,000 after buying an additional 124 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ONTO. Benchmark reaffirmed a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, November 1st. Jefferies Financial Group dropped their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a report on Friday, November 1st. Cantor Fitzgerald started coverage on shares of Onto Innovation in a research report on Monday. They issued an “overweight” rating and a $250.00 target price for the company. Needham & Company LLC lowered their price target 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. Finally, Oppenheimer reiterated an “outperform” rating and issued a $275.00 price objective on shares of Onto Innovation in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $253.75.

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.