Onto Innovation Inc. (NYSE:ONTO) CEO Michael P. Plisinski Sells 20,000 Shares

Onto Innovation Inc. (NYSE:ONTO) CEO Michael P. Plisinski sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total value of $4,003,800.00. Following the completion of the transaction, the chief executive officer now directly owns 215,492 shares of the company’s stock, valued at $43,139,343.48. This represents a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Onto Innovation Price Performance

Shares of ONTO stock opened at $216.52 on Friday. The business’s 50 day simple moving average is $174.06 and its 200 day simple moving average is $192.19. Onto Innovation Inc. has a one year low of $145.15 and a one year high of $238.93. The stock has a market capitalization of $10.69 billion, a PE ratio of 58.68, a PEG ratio of 0.98 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. The firm had revenue of $252.20 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 EPS. As a group, research analysts expect that Onto Innovation Inc. will post 5.22 earnings per share for the current year.

Hedge Funds Weigh In On Onto Innovation

A number of institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in shares of Onto Innovation by 12.9% during the 3rd 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 in the last quarter. State Street Corp boosted its holdings in shares of Onto Innovation by 2.8% during the 3rd quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company’s stock worth $305,107,000 after buying an additional 39,367 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Onto Innovation by 4.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company’s stock worth $288,320,000 after buying an additional 54,868 shares in the last quarter. Congress Asset Management Co. boosted its holdings in shares of Onto Innovation by 38.1% during the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after buying an additional 295,869 shares in the last quarter. Finally, Geneva Capital Management LLC boosted its holdings in shares of Onto Innovation by 2.6% during the 3rd quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company’s stock worth $195,032,000 after buying an additional 23,628 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Benchmark reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, November 1st. Jefferies Financial Group lowered 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. Needham & Company LLC lowered their price objective 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. Oppenheimer reaffirmed an “outperform” rating and issued a $275.00 price objective on shares of Onto Innovation in a research note on Tuesday, December 17th. Finally, Cantor Fitzgerald assumed coverage on Onto Innovation in a research note on Monday, January 13th. They issued an “overweight” rating and a $250.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.75.

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.