Onto Innovation (NYSE:ONTO) Stock Price Down 3.2%

Onto Innovation Inc. (NYSE:ONTO)’s share price traded down 3.2% during trading on Friday . The stock traded as low as $171.46 and last traded at $171.98. 119,616 shares changed hands during trading, a decline of 71% from the average session volume of 411,818 shares. The stock had previously closed at $177.63.

Analyst Ratings Changes

Several analysts have commented on the stock. Evercore ISI assumed coverage on shares of Onto Innovation in a research report on Tuesday, April 16th. They set an “outperform” rating and a $235.00 target price for the company. B. Riley upped their target price on shares of Onto Innovation from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Friday, February 9th. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. Stifel Nicolaus upped their target price on shares of Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Finally, Benchmark upped their target price on shares of Onto Innovation from $145.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Onto Innovation currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.60.

Onto Innovation Trading Down 4.6 %

The company has a market cap of $8.32 billion, a price-to-earnings ratio of 68.86 and a beta of 1.40. The firm’s fifty day moving average price is $181.80 and its 200-day moving average price is $155.59.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.07. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The company had revenue of $219.00 million during the quarter, compared to analyst estimates of $209.06 million. During the same quarter in the previous year, the business earned $1.57 EPS. The firm’s revenue was down 13.5% on a year-over-year basis. As a group, research analysts anticipate that Onto Innovation Inc. will post 4.7 EPS for the current year.

Insider Activity

In other news, Director David Brian Miller sold 2,800 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total value of $477,372.00. Following the completion of the transaction, the director now owns 9,008 shares of the company’s stock, valued at approximately $1,535,773.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Michael P. Plisinski sold 40,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total value of $7,019,200.00. Following the completion of the transaction, the chief executive officer now directly owns 235,492 shares of the company’s stock, valued at approximately $41,324,136.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David Brian Miller sold 2,800 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total transaction of $477,372.00. Following the completion of the transaction, the director now directly owns 9,008 shares of the company’s stock, valued at $1,535,773.92. The disclosure for this sale can be found here. Insiders sold 47,170 shares of company stock valued at $8,266,955 in the last quarter. Company insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Onto Innovation

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp boosted its stake in Onto Innovation by 198.3% in the 4th quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 115 shares during the period. Contravisory Investment Management Inc. acquired a new position in shares of Onto Innovation during the 4th quarter worth about $28,000. Huntington National Bank boosted its stake in shares of Onto Innovation by 70.3% during the 3rd quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock worth $31,000 after buying an additional 102 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Onto Innovation during the 4th quarter worth about $33,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Onto Innovation by 51.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 516 shares of the semiconductor company’s stock worth $33,000 after buying an additional 175 shares during the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

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.