Onto Innovation (NYSE:ONTO) Stock Rating Lowered by StockNews.com

Onto Innovation (NYSE:ONTO) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

ONTO has been the topic of a number of other reports. Oppenheimer reiterated an “outperform” rating and set a $275.00 price target on shares of Onto Innovation in a research report on Tuesday, December 17th. Benchmark reissued a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Stifel Nicolaus reduced their price target on Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $251.25.

Onto Innovation Trading Down 4.2 %

Shares of NYSE ONTO opened at $168.61 on Tuesday. The business has a 50-day moving average of $186.33 and a 200-day moving average of $189.90. The firm has a market capitalization of $8.33 billion, a price-to-earnings ratio of 41.53, a PEG ratio of 1.09 and a beta of 1.31. Onto Innovation has a 12 month low of $145.15 and a 12 month high of $238.93.

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

Insider Buying and Selling at Onto Innovation

In related news, SVP Srinivas Vedula sold 827 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction of $169,535.00. Following the sale, the senior vice president now owns 15,223 shares of the company’s stock, valued at $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael P. Plisinski sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total value of $4,003,800.00. Following the completion of the sale, the chief executive officer now owns 215,492 shares in the company, valued at $43,139,343.48. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 85,827 shares of company stock valued at $18,182,185. 0.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Onto Innovation

A number of institutional investors have recently modified their holdings of ONTO. Kestra Investment Management LLC bought a new position in Onto Innovation in the 4th quarter valued at approximately $26,000. Mather Group LLC. lifted its stake in Onto Innovation by 209.4% during the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 111 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Onto Innovation by 532.4% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 197 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Onto Innovation during the fourth quarter valued at approximately $43,000. Finally, Berbice Capital Management LLC bought a new stake in Onto Innovation in the 4th quarter worth approximately $50,000. 98.35% of the stock is 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.