Onto Innovation (NYSE:ONTO) Shares Up 3.8%

Onto Innovation Inc. (NYSE:ONTO)’s share price was up 3.8% during trading on Tuesday . The company traded as high as $190.24 and last traded at $190.07. Approximately 224,104 shares changed hands during trading, a decline of 45% from the average daily volume of 408,741 shares. The stock had previously closed at $183.07.

Analysts Set New Price Targets

ONTO has been the subject of a number of recent analyst reports. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Evercore ISI assumed coverage on shares of Onto Innovation in a report on Tuesday. They set an “outperform” rating and a $235.00 price target for the company. Stifel Nicolaus upped their price objective on shares of Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Benchmark boosted their price target on Onto Innovation from $145.00 to $180.00 and gave the company a “buy” rating in a report on Friday, February 9th. Finally, B. Riley raised 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 five have issued a buy rating to the stock. Based on data from MarketBeat.com, Onto Innovation has a consensus rating of “Moderate Buy” and an average price target of $191.60.

Onto Innovation Stock Performance

The stock has a fifty day simple moving average of $181.76 and a two-hundred day simple moving average of $154.93. The stock has a market cap of $8.73 billion, a PE ratio of 73.56 and a beta of 1.40.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share 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 business had revenue of $219.00 million during the quarter, compared to the consensus estimate of $209.06 million. During the same period in the prior year, the firm earned $1.57 earnings per share. The business’s quarterly revenue was down 13.5% compared to the same quarter last year. On average, equities analysts predict that Onto Innovation Inc. will post 4.7 EPS for the current fiscal year.

Insider Transactions at Onto Innovation

In related news, Director David Brian Miller sold 2,800 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total value of $477,372.00. Following the transaction, the director now owns 9,008 shares in the company, valued at $1,535,773.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Onto Innovation news, Director David Brian Miller sold 2,800 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total transaction of $477,372.00. Following the sale, the director now directly owns 9,008 shares of the company’s stock, valued at $1,535,773.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Yoon Ah Oh sold 1,685 shares of Onto Innovation stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $180.00, for a total transaction of $303,300.00. Following the completion of the transaction, the vice president now directly owns 14,913 shares of the company’s stock, valued at $2,684,340. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,170 shares of company stock valued at $8,266,955. 0.72% of the stock is currently owned by insiders.

Institutional Trading of Onto Innovation

A number of institutional investors and hedge funds have recently made changes to their positions in ONTO. Vanguard Group Inc. lifted its position in Onto Innovation by 0.5% in the third quarter. Vanguard Group Inc. now owns 5,728,291 shares of the semiconductor company’s stock worth $730,472,000 after purchasing an additional 27,695 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in Onto Innovation by 14.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,891,994 shares of the semiconductor company’s stock worth $128,826,000 after acquiring an additional 239,310 shares during the period. State Street Corp raised its position in Onto Innovation by 3.6% in the first quarter. State Street Corp now owns 1,687,670 shares of the semiconductor company’s stock worth $148,312,000 after acquiring an additional 58,146 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Onto Innovation by 55.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,666,438 shares of the semiconductor company’s stock valued at $116,217,000 after acquiring an additional 592,920 shares during the last quarter. Finally, Robeco Schweiz AG boosted its position in shares of Onto Innovation by 10.2% during the 1st quarter. Robeco Schweiz AG now owns 1,300,000 shares of the semiconductor company’s stock valued at $112,957,000 after purchasing an additional 120,000 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

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.