Onto Innovation (NYSE:ONTO) Trading Up 1%

Onto Innovation Inc. (NYSE:ONTO) rose 1% on Monday . The company traded as high as $159.96 and last traded at $159.96. Approximately 14,845 shares were traded during trading, a decline of 97% from the average daily volume of 533,488 shares. The stock had previously closed at $158.45.

Analysts Set New Price Targets

ONTO has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on Onto Innovation in a report on Monday, May 13th. They set a “buy” rating and a $265.00 price target for the company. Evercore ISI increased their price target on Onto Innovation from $235.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 10th. Benchmark increased their price target on Onto Innovation from $180.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Stifel Nicolaus raised their target price on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Needham & Company LLC restated a “hold” rating on shares of Onto Innovation in a report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.00.

Onto Innovation Stock Performance

The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 56.39 and a beta of 1.39. The firm has a 50-day moving average price of $215.35 and a two-hundred day moving average price of $196.04.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.10 by $0.08. The company had revenue of $228.80 million for the quarter, compared to analyst estimates of $222.60 million. Onto Innovation had a return on equity of 11.48% and a net margin of 16.43%. The firm’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 earnings per share. Research analysts anticipate that Onto Innovation Inc. will post 5.05 earnings per share for the current year.

Insiders Place Their Bets

In other Onto Innovation news, SVP Srinivas Vedula sold 1,486 shares of Onto Innovation stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $213.40, for a total transaction of $317,112.40. Following the transaction, the senior vice president now owns 17,433 shares of the company’s stock, valued at $3,720,202.20. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Mark Slicer sold 519 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $221.21, for a total value of $114,807.99. Following the sale, the chief financial officer now directly owns 12,552 shares in the company, valued at $2,776,627.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Srinivas Vedula sold 1,486 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $213.40, for a total value of $317,112.40. Following the transaction, the senior vice president now owns 17,433 shares in the company, valued at $3,720,202.20. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Onto Innovation

Large investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp grew its stake in Onto Innovation by 198.3% during the 4th quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 115 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Onto Innovation during the 1st quarter valued at $28,000. GAMMA Investing LLC acquired a new position in shares of Onto Innovation during the 4th quarter valued at $33,000. Rise Advisors LLC acquired a new position in shares of Onto Innovation in the 1st quarter worth $38,000. Finally, LGT Financial Advisors LLC grew its holdings in shares of Onto Innovation by 58.1% during the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 90 shares in the last quarter. 98.35% of the stock is currently owned by hedge funds and other 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.