Onto Innovation Inc. (NYSE:ONTO) SVP Sells $264,231.00 in Stock

Onto Innovation Inc. (NYSE:ONTO) SVP Srinivas Vedula sold 1,275 shares of Onto Innovation stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total transaction of $264,231.00. Following the sale, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Srinivas Vedula also recently made the following trade(s):

• On Monday, June 10th, Srinivas Vedula sold 1,486 shares of Onto Innovation stock. The shares were sold at an average price of $213.40, for a total transaction of $317,112.40.

Onto Innovation Stock Performance

NYSE:ONTO opened at $188.00 on Thursday. The firm’s 50-day moving average is $205.29 and its 200-day moving average is $201.07. Onto Innovation Inc. has a 52-week low of $108.98 and a 52-week high of $238.93. The company has a market cap of $9.26 billion, a price-to-earnings ratio of 66.90 and a beta of 1.39.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.12. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The business had revenue of $242.33 million for the quarter, compared to analyst estimates of $235.43 million. During the same period in the previous year, the business earned $0.79 EPS. The firm’s revenue was up 27.1% on a year-over-year basis. Equities analysts predict that Onto Innovation Inc. will post 5.11 EPS for the current year.

Hedge Funds Weigh In On Onto Innovation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ONTO. Vaughan Nelson Investment Management L.P. lifted its position in shares of Onto Innovation by 24.6% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 202,425 shares of the semiconductor company’s stock worth $44,444,000 after purchasing an additional 39,955 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Onto Innovation by 98.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company’s stock worth $1,218,000 after purchasing an additional 2,753 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Onto Innovation by 17.8% during the first quarter. Nordea Investment Management AB now owns 102,103 shares of the semiconductor company’s stock worth $18,586,000 after purchasing an additional 15,451 shares in the last quarter. Eagle Asset Management Inc. lifted its position in shares of Onto Innovation by 36.8% during the fourth quarter. Eagle Asset Management Inc. now owns 295,824 shares of the semiconductor company’s stock worth $45,231,000 after purchasing an additional 79,530 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Onto Innovation by 106.5% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 7,263 shares of the semiconductor company’s stock worth $1,111,000 after purchasing an additional 3,746 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Needham & Company LLC raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. Stifel Nicolaus lifted their price objective on shares of Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Evercore ISI lifted their price objective on shares of Onto Innovation from $235.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Benchmark reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, August 9th. Finally, B. Riley lifted their price objective on shares of Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $259.00.

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.