Stifel Nicolaus Cuts Onto Innovation (NYSE:ONTO) Price Target to $250.00

Onto Innovation (NYSE:ONTO) had its target price reduced by Stifel Nicolaus from $270.00 to $250.00 in a report released on Friday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company’s stock.

ONTO has been the subject of several other research reports. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday. Oppenheimer reaffirmed an “outperform” rating and issued a $275.00 price objective on shares of Onto Innovation in a research report on Tuesday, December 17th. Benchmark reissued a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research report on Friday, November 1st. Jefferies Financial Group reduced their target price on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, Cantor Fitzgerald assumed coverage on Onto Innovation in a research report on Monday, January 13th. They set an “overweight” rating and a $250.00 price target for the company. One research analyst has rated the stock with a hold rating and eight have issued 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 $251.25.

Onto Innovation Price Performance

ONTO opened at $187.81 on Friday. Onto Innovation has a fifty-two week low of $145.15 and a fifty-two week high of $238.93. The firm has a market capitalization of $9.28 billion, a PE ratio of 46.26, a P/E/G ratio of 1.09 and a beta of 1.31. The company’s 50-day moving average is $186.01 and its 200 day moving average is $190.08.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. Onto Innovation had a return on equity of 14.41% and a net margin of 20.43%. As a group, analysts expect that Onto Innovation will post 6.46 EPS for the current year.

Insider Transactions at Onto Innovation

In related news, CEO Michael P. Plisinski sold 35,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the sale, the chief executive officer now owns 150,492 shares of the company’s stock, valued at approximately $32,986,341.48. This represents a 18.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the transaction, the senior vice president now directly owns 15,223 shares of the company’s stock, valued at $3,120,715. The trade was a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,827 shares of company stock worth $18,182,185 over the last quarter. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of Onto Innovation

Institutional investors and hedge funds have recently bought and sold shares of the company. HighTower Advisors LLC grew its position in shares of Onto Innovation by 4.0% during the 4th quarter. HighTower Advisors LLC now owns 10,587 shares of the semiconductor company’s stock valued at $1,765,000 after purchasing an additional 403 shares in the last quarter. Wealthfront Advisers LLC purchased a new position in shares of Onto Innovation during the fourth quarter worth about $20,182,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Onto Innovation by 18.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,782 shares of the semiconductor company’s stock worth $2,630,000 after purchasing an additional 2,466 shares in the last quarter. AlphaQuest LLC increased its position in shares of Onto Innovation by 28.1% in the fourth quarter. AlphaQuest LLC now owns 2,963 shares of the semiconductor company’s stock worth $494,000 after purchasing an additional 650 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Onto Innovation by 42.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,342 shares of the semiconductor company’s stock valued at $1,057,000 after purchasing an additional 1,878 shares in the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

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.