Insider Selling: Onto Innovation Inc. (NYSE:ONTO) SVP Sells 827 Shares of Stock

Onto Innovation Inc. (NYSE:ONTO) SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction 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 sale, the senior vice president now owns 15,223 shares in the company, valued at $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 available through the SEC website.

Onto Innovation Trading Up 4.4 %

Shares of ONTO stock opened at $213.65 on Friday. The company has a market capitalization of $10.55 billion, a P/E ratio of 57.90, a price-to-earnings-growth ratio of 0.98 and a beta of 1.29. The business’s 50 day moving average is $172.50 and its two-hundred day moving average is $192.05. Onto Innovation Inc. has a twelve month low of $141.79 and a twelve month high of $238.93.

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Needham & Company LLC dropped their price objective on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Cantor Fitzgerald started coverage on Onto Innovation in a research note on Monday. They set an “overweight” rating and a $250.00 price target on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $275.00 price target on shares of Onto Innovation in a research report on Tuesday, December 17th. Benchmark reissued a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, November 1st. Finally, Jefferies Financial Group cut their target price 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. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $253.75.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ONTO. Acadian Asset Management LLC acquired a new position in Onto Innovation during the 2nd quarter worth approximately $397,000. Envestnet Asset Management Inc. boosted its stake in shares of Onto Innovation by 15.6% in the second quarter. Envestnet Asset Management Inc. now owns 68,943 shares of the semiconductor company’s stock valued at $15,137,000 after buying an additional 9,319 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Onto Innovation by 28.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock worth $188,115,000 after acquiring an additional 189,769 shares during the period. Renaissance Technologies LLC purchased a new position in Onto Innovation in the second quarter worth $5,878,000. Finally, Virtu Financial LLC acquired a new stake in Onto Innovation in the second quarter valued at $1,558,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Company Profile

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.