Michael P. Plisinski Sells 30,000 Shares of Onto Innovation Inc. (NYSE:ONTO) Stock

Onto Innovation Inc. (NYSE:ONTOGet Free Report) CEO Michael P. Plisinski sold 30,000 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $211.24, for a total value of $6,337,200.00. Following the completion of the sale, the chief executive officer now owns 185,492 shares of the company’s stock, valued at approximately $39,183,330.08. This represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Onto Innovation Price Performance

NYSE:ONTO opened at $219.90 on Wednesday. The firm has a market cap of $10.86 billion, a PE ratio of 59.59, a price-to-earnings-growth ratio of 1.12 and a beta of 1.29. The company has a 50-day moving average of $174.89 and a 200 day moving average of $191.64. Onto Innovation Inc. has a 1-year low of $145.15 and a 1-year high of $238.93.

Onto Innovation (NYSE:ONTOGet Free Report) last announced its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.03. The firm had revenue of $252.20 million during the quarter, compared to analysts’ expectations of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The company’s revenue was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.96 EPS. Sell-side analysts anticipate that Onto Innovation Inc. will post 5.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP boosted its position in Onto Innovation by 232.4% during the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Onto Innovation by 675.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 108 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Onto Innovation by 532.4% in the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 197 shares in the last quarter. Berbice Capital Management LLC purchased a new position in shares of Onto Innovation in the 4th quarter worth approximately $50,000. Finally, Eastern Bank bought a new position in shares of Onto Innovation during the 3rd quarter worth approximately $65,000. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ONTO has been the subject of several analyst reports. Benchmark restated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. Jefferies Financial Group dropped their target price on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Oppenheimer reissued an “outperform” rating and set a $275.00 price target on shares of Onto Innovation in a research note on Tuesday, December 17th. Cantor Fitzgerald began coverage on Onto Innovation in a research report on Monday, January 13th. They issued an “overweight” rating and a $250.00 price objective on the stock. Finally, Needham & Company LLC decreased their target price on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Onto Innovation has a consensus rating of “Moderate Buy” and an average target price of $253.75.

Read Our Latest Stock Analysis on Onto Innovation

About Onto Innovation

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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.

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