Onto Innovation Inc. (NYSE:ONTO) CEO Sells $7,671,650.00 in Stock

Onto Innovation Inc. (NYSE:ONTO) CEO Michael P. Plisinski sold 35,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the completion of the transaction, the chief executive officer now owns 150,492 shares in the company, valued at $32,986,341.48. The trade was a 18.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Onto Innovation Trading Up 2.3 %

NYSE ONTO opened at $224.76 on Thursday. Onto Innovation Inc. has a 12 month low of $145.15 and a 12 month high of $238.93. The stock’s 50 day moving average is $175.80 and its 200 day moving average is $191.58. The stock has a market cap of $11.10 billion, a PE ratio of 60.91, a P/E/G ratio of 1.12 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.31 by $0.03. The firm 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%. The company’s quarterly 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 earnings per share. On average, analysts forecast that Onto Innovation Inc. will post 5.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ONTO. Magnetar Financial LLC increased its holdings in shares of Onto Innovation by 4.0% in the second quarter. Magnetar Financial LLC now owns 1,622 shares of the semiconductor company’s stock worth $356,000 after purchasing an additional 63 shares during the last quarter. UMB Bank n.a. grew its holdings in Onto Innovation by 22.8% during the 4th quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock valued at $66,000 after buying an additional 74 shares in the last quarter. Northwest & Ethical Investments L.P. increased its stake in Onto Innovation by 7.8% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 1,050 shares of the semiconductor company’s stock worth $218,000 after acquiring an additional 76 shares during the last quarter. Quarry LP raised its holdings in shares of Onto Innovation by 232.4% during the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 79 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC boosted its position in shares of Onto Innovation by 3.6% during the 3rd quarter. Hunter Perkins Capital Management LLC now owns 2,325 shares of the semiconductor company’s stock valued at $483,000 after acquiring an additional 80 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ONTO. Needham & Company LLC decreased their target price on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Jefferies Financial Group decreased their price objective on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Oppenheimer reiterated an “outperform” rating and set a $275.00 price objective on shares of Onto Innovation in a research note on Tuesday, December 17th. Benchmark reissued a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. Finally, Cantor Fitzgerald initiated coverage on shares of Onto Innovation in a report on Monday, January 13th. They set an “overweight” rating and a $250.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.