Onto Innovation (NYSE:ONTO) Releases Earnings Results, Beats Expectations By $0.10 EPS

Onto Innovation (NYSE:ONTO) released its earnings results on Thursday. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10, Zacks reports. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%.

Onto Innovation Trading Up 0.6 %

NYSE ONTO traded up $1.16 during trading on Thursday, reaching $210.86. 1,392,547 shares of the company’s stock were exchanged, compared to its average volume of 884,589. Onto Innovation has a fifty-two week low of $145.15 and a fifty-two week high of $238.93. The firm has a market capitalization of $10.41 billion, a PE ratio of 57.14, a P/E/G ratio of 1.06 and a beta of 1.31. The company’s fifty day simple moving average is $184.54 and its 200-day simple moving average is $190.24.

Insiders Place Their Bets

In other Onto Innovation news, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 150,492 shares of the company’s stock, valued at $32,986,341.48. The trade was a 18.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the transaction, the senior vice president now directly owns 15,223 shares in the company, valued at approximately $3,120,715. This represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,827 shares of company stock worth $18,182,185. 0.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on ONTO. Jefferies Financial Group lowered their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a report on Friday, November 1st. Needham & Company LLC lowered their target price on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a report on Friday, November 1st. Benchmark restated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. 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. Finally, Cantor Fitzgerald started coverage on shares of Onto Innovation in a research report on Monday, January 13th. They set an “overweight” rating and a $250.00 target price on the stock. One equities research 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, the company has an average 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.