Onto Innovation (NYSE:ONTO) Hits New 12-Month High at $204.10

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ONTO. StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. B. Riley increased their target price on Onto Innovation from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Evercore ISI began coverage on shares of Onto Innovation in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $235.00 price target for the company. Benchmark raised their price objective 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. Finally, 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 note on Monday, March 25th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $191.60.

Onto Innovation Trading Up 2.6 %

The firm has a market cap of $9.87 billion, a P/E ratio of 81.63 and a beta of 1.40. The business’s 50-day moving average is $183.87 and its two-hundred day moving average is $159.13.

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

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, CEO Michael P. Plisinski sold 40,000 shares of the company’s stock in a transaction dated 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 owns 235,492 shares in the company, valued at approximately $41,324,136.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, 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 sale, the vice president now directly owns 14,913 shares in the company, valued at $2,684,340. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael P. Plisinski sold 40,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the completion of the sale, the chief executive officer now directly owns 235,492 shares of the company’s stock, valued at approximately $41,324,136.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,170 shares of company stock worth $8,266,955. 0.72% of the stock is owned by insiders.

Institutional Trading of Onto Innovation

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James & Associates increased its stake in shares of Onto Innovation by 72.3% during the third quarter. Raymond James & Associates now owns 5,724 shares of the semiconductor company’s stock valued at $730,000 after acquiring an additional 2,401 shares during the period. Advisor Partners II LLC boosted its stake in Onto Innovation by 131.8% during the third quarter. Advisor Partners II LLC now owns 6,216 shares of the semiconductor company’s stock valued at $793,000 after buying an additional 3,534 shares in the last quarter. Park Avenue Securities LLC acquired a new position in Onto Innovation during the third quarter worth about $219,000. Emerald Advisers LLC bought a new stake in Onto Innovation in the third quarter worth about $10,491,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in Onto Innovation in the 3rd quarter valued at about $8,669,000. 98.35% of the stock is currently owned by institutional investors.

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.