Onto Innovation (NYSE:ONTO) Given New $240.00 Price Target at Oppenheimer

Onto Innovation (NYSE:ONTO) had its price target trimmed by Oppenheimer from $275.00 to $240.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the semiconductor company’s stock.

ONTO has been the topic of several other reports. Stifel Nicolaus lowered their price target on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. StockNews.com downgraded Onto Innovation from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. Benchmark reiterated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $246.88.

Onto Innovation Stock Down 2.1 %

Shares of NYSE ONTO opened at $167.29 on Thursday. The company has a market cap of $8.26 billion, a PE ratio of 41.21, a price-to-earnings-growth ratio of 0.90 and a beta of 1.31. Onto Innovation has a twelve month low of $145.15 and a twelve month high of $238.93. The business’s 50 day moving average price is $187.05 and its two-hundred day moving average price is $189.61.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 EPS 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 14.24%. As a group, research analysts anticipate that Onto Innovation will post 6.32 EPS for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In related news, CEO Michael P. Plisinski sold 30,000 shares of Onto Innovation stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $211.24, for a total value of $6,337,200.00. Following the transaction, the chief executive officer now directly owns 185,492 shares of the company’s stock, valued at $39,183,330.08. The trade was a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Srinivas Vedula sold 827 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total transaction of $169,535.00. Following the completion of the transaction, the senior vice president now owns 15,223 shares in the company, valued at $3,120,715. This trade represents a 5.15 % 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 over the last quarter. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of Onto Innovation

Large investors have recently modified their holdings of the stock. Kestra Investment Management LLC bought a new stake in shares of Onto Innovation during the fourth quarter valued at approximately $26,000. Mather Group LLC. increased its stake in Onto Innovation by 209.4% during the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 111 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in Onto Innovation during the fourth quarter worth $38,000. Versant Capital Management Inc lifted its stake in shares of Onto Innovation by 532.4% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 197 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Onto Innovation during the fourth quarter valued at about $43,000. Institutional investors and hedge funds 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.