Onto Innovation (NYSE:ONTO) Trading Up 1%

Shares of Onto Innovation Inc. (NYSE:ONTO) were up 1% on Monday . The company traded as high as $159.96 and last traded at $159.96. Approximately 14,845 shares traded hands during trading, a decline of 97% from the average daily volume of 533,488 shares. The stock had previously closed at $158.45.

Analyst Ratings Changes

A number of research analysts have weighed in on ONTO shares. Evercore ISI boosted their price objective on shares of Onto Innovation from $235.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. B. Riley upped their price target on shares of Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Stifel Nicolaus upped their price target on shares of Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Needham & Company LLC restated a “hold” rating on shares of Onto Innovation in a report on Friday, May 10th. Finally, Benchmark upped their price target on shares of Onto Innovation from $180.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $259.00.

Onto Innovation Trading Up 3.5 %

The company’s 50-day moving average is $215.35 and its 200 day moving average is $196.04. The stock has a market capitalization of $8.08 billion, a PE ratio of 56.39 and a beta of 1.39.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.08. The company had revenue of $228.80 million for the quarter, compared to analyst estimates of $222.60 million. Onto Innovation had a return on equity of 11.48% and a net margin of 16.43%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS. Sell-side analysts forecast that Onto Innovation Inc. will post 5.05 EPS for the current fiscal year.

Insider Transactions at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,486 shares of Onto Innovation stock in a transaction on Monday, June 10th. The stock was sold at an average price of $213.40, for a total transaction of $317,112.40. Following the transaction, the senior vice president now owns 17,433 shares in the company, valued at approximately $3,720,202.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Srinivas Vedula sold 1,486 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $213.40, for a total value of $317,112.40. Following the sale, the senior vice president now directly owns 17,433 shares in the company, valued at approximately $3,720,202.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Slicer sold 519 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $221.21, for a total transaction of $114,807.99. Following the completion of the sale, the chief financial officer now owns 12,552 shares in the company, valued at $2,776,627.92. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ONTO. QRG Capital Management Inc. boosted its position in shares of Onto Innovation by 2.7% during the 2nd quarter. QRG Capital Management Inc. now owns 1,935 shares of the semiconductor company’s stock worth $425,000 after acquiring an additional 50 shares in the last quarter. Shaker Investments LLC OH boosted its position in shares of Onto Innovation by 1.7% during the 2nd quarter. Shaker Investments LLC OH now owns 3,928 shares of the semiconductor company’s stock worth $862,000 after acquiring an additional 64 shares in the last quarter. Vontobel Holding Ltd. boosted its position in shares of Onto Innovation by 1.2% during the 4th quarter. Vontobel Holding Ltd. now owns 6,535 shares of the semiconductor company’s stock worth $999,000 after acquiring an additional 75 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Onto Innovation by 40.2% during the 2nd quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock worth $64,000 after acquiring an additional 84 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Onto Innovation by 41.1% during the 1st quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 85 shares in the last quarter. Hedge funds and other institutional investors 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.