Onto Innovation (NYSE:ONTO) Hits New 52-Week High at $204.10

Onto Innovation Inc. (NYSE:ONTO) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $204.10 and last traded at $201.25, with a volume of 119914 shares trading hands. The stock had previously closed at $195.71.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ONTO shares. Stifel Nicolaus increased their price target on Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, March 25th. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. Benchmark lifted their target price on shares of Onto Innovation from $145.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Evercore ISI initiated coverage on shares of Onto Innovation in a report on Tuesday, April 16th. They issued an “outperform” rating and a $235.00 price target on the stock. Finally, B. Riley boosted their price objective on Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $191.60.

Onto Innovation Stock Up 2.6 %

The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 81.63 and a beta of 1.40. The company’s 50 day moving average is $183.87 and its 200 day moving average is $159.13.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The business had revenue of $219.00 million for the quarter, compared to the consensus estimate of $209.06 million. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The firm’s quarterly revenue was down 13.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.57 earnings per share. On average, analysts expect that Onto Innovation Inc. will post 4.7 EPS for the current year.

Insider Activity at Onto Innovation

In other news, CEO Michael P. Plisinski sold 40,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $41,324,136.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Yoon Ah Oh sold 1,685 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $180.00, for a total transaction of $303,300.00. Following the sale, the vice president now owns 14,913 shares in the company, valued at approximately $2,684,340. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael P. Plisinski sold 40,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total value of $7,019,200.00. Following the sale, the chief executive officer now owns 235,492 shares in the company, valued at $41,324,136.16. The disclosure for this sale can be found here. Insiders sold a total of 47,170 shares of company stock valued at $8,266,955 over the last quarter. 0.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Onto Innovation

Institutional investors and hedge funds have recently made changes to their positions in the stock. TFB Advisors LLC bought a new stake in shares of Onto Innovation during the 1st quarter valued at about $351,000. Central Pacific Bank Trust Division acquired a new position in Onto Innovation in the first quarter valued at approximately $180,000. Jennison Associates LLC boosted its holdings in shares of Onto Innovation by 135.7% during the 1st quarter. Jennison Associates LLC now owns 8,219 shares of the semiconductor company’s stock worth $1,488,000 after buying an additional 4,732 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Onto Innovation by 17.8% during the 1st quarter. Nordea Investment Management AB now owns 102,103 shares of the semiconductor company’s stock worth $18,586,000 after buying an additional 15,451 shares during the period. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Onto Innovation in the 1st quarter valued at $28,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

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.