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 firm’s stock in a transaction that occurred on 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 in the company, valued at $39,183,330.08. This represents a 13.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Onto Innovation Stock Up 1.5 %

ONTO traded up $3.31 during midday trading on Tuesday, hitting $219.90. The company had a trading volume of 1,389,342 shares, compared to its average volume of 806,987. The company has a market capitalization of $10.86 billion, a price-to-earnings ratio of 59.59, a PEG ratio of 1.12 and a beta of 1.29. The stock’s 50 day moving average price is $174.89 and its 200 day moving average price is $191.64. Onto Innovation Inc. has a 52 week low of $145.15 and a 52 week high of $238.93.

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

Institutional Trading of Onto Innovation

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cerity Partners LLC lifted its holdings in shares of Onto Innovation by 287.0% in the third quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock valued at $968,000 after purchasing an additional 3,458 shares in the last quarter. Geode Capital Management LLC raised its position in Onto Innovation by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company’s stock valued at $173,401,000 after buying an additional 13,405 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Onto Innovation by 12.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock valued at $416,863,000 after acquiring an additional 228,800 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Onto Innovation during the 3rd quarter valued at $14,539,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Onto Innovation by 675.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 108 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

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