Onto Innovation’s (ONTO) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Onto Innovation (NYSE:ONTO) in a research note issued to investors on Friday,Benzinga reports. Cantor Fitzgerald currently has a $250.00 target price on the semiconductor company’s stock.

Other equities research analysts have also issued reports about the stock. Jefferies Financial Group reduced their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Stifel Nicolaus cut their price target on Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday. Benchmark reaffirmed a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, November 1st. Oppenheimer reissued an “outperform” rating and set a $275.00 target price on shares of Onto Innovation in a research report on Tuesday, December 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $251.25.

Onto Innovation Price Performance

Shares of NYSE ONTO opened at $187.81 on Friday. The stock’s 50-day moving average is $185.54 and its two-hundred day moving average is $190.38. The company has a market cap of $9.28 billion, a price-to-earnings ratio of 46.26, a price-to-earnings-growth ratio of 1.09 and a beta of 1.31. Onto Innovation has a 1-year low of $145.15 and a 1-year high of $238.93.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.41%. Equities research analysts anticipate that Onto Innovation will post 6.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction of $169,535.00. Following the completion of the sale, the senior vice president now owns 15,223 shares in the company, valued at approximately $3,120,715. This represents a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael P. Plisinski sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total value of $7,671,650.00. Following the transaction, the chief executive officer now directly owns 150,492 shares in the company, valued at approximately $32,986,341.48. This represents a 18.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock worth $18,182,185 in the last quarter. 0.72% of the stock is owned by insiders.

Institutional Trading of Onto Innovation

A number of hedge funds have recently added to or reduced their stakes in ONTO. Kestra Investment Management LLC acquired a new position in shares of Onto Innovation in the fourth quarter valued at approximately $26,000. Northwestern Mutual Wealth Management Co. grew its position in Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 108 shares during the last quarter. Mather Group LLC. increased its stake in Onto Innovation by 209.4% in the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 111 shares during the period. Versant Capital Management Inc raised its position in Onto Innovation by 532.4% during the 4th 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 last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Onto Innovation in the 4th quarter worth $43,000. 98.35% of the stock is owned by institutional investors and hedge funds.

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.