Onto Innovation Inc. (NYSE:ONTO) CEO Sells $7,671,650.00 in Stock

Onto Innovation Inc. (NYSE:ONTO) CEO Michael P. Plisinski sold 35,000 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 150,492 shares of the company’s stock, valued at approximately $32,986,341.48. This trade represents a 18.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Onto Innovation Price Performance

NYSE:ONTO opened at $213.26 on Friday. The firm has a market capitalization of $10.53 billion, a price-to-earnings ratio of 57.79, a PEG ratio of 1.16 and a beta of 1.29. Onto Innovation Inc. has a 1 year low of $145.15 and a 1 year high of $238.93. The business has a 50 day simple moving average of $178.03 and a 200-day simple moving average of $191.98.

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

Institutional Investors Weigh In On Onto Innovation

Several institutional investors have recently modified their holdings of the stock. Cerity Partners LLC raised its holdings in shares of Onto Innovation by 287.0% in the third quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock worth $968,000 after buying an additional 3,458 shares during the period. Geode Capital Management LLC raised its holdings in shares of Onto Innovation by 1.6% in the third quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company’s stock worth $173,401,000 after buying an additional 13,405 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after buying an additional 228,800 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Onto Innovation in the third quarter worth approximately $14,539,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Onto Innovation by 675.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after buying an additional 108 shares during the period. 98.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ONTO shares. Jefferies Financial Group dropped their price objective on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Oppenheimer reissued an “outperform” rating and set a $275.00 price target on shares of Onto Innovation in a research note on Tuesday, December 17th. Cantor Fitzgerald assumed coverage on Onto Innovation in a research note on Monday, January 13th. They set an “overweight” rating and a $250.00 price target for the company. Needham & Company LLC dropped their price target on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Finally, Benchmark reissued a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Onto Innovation has a consensus rating of “Moderate Buy” and an average price target of $253.75.

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.