Insider Selling: Onto Innovation Inc. (NYSE:ONTO) CEO Sells 20,000 Shares of Stock

Onto Innovation Inc. (NYSE:ONTO) CEO Michael P. Plisinski sold 20,000 shares of Onto Innovation stock in a transaction 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 directly owns 215,492 shares of the company’s stock, valued at approximately $43,139,343.48. The trade was a 8.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Onto Innovation Trading Up 4.4 %

Shares of NYSE ONTO opened at $213.65 on Friday. Onto Innovation Inc. has a 12-month low of $141.79 and a 12-month high of $238.93. The firm has a market capitalization of $10.55 billion, a price-to-earnings ratio of 57.90, a price-to-earnings-growth ratio of 0.98 and a beta of 1.29. The firm has a 50 day moving average of $172.50 and a 200 day moving average of $192.05.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The firm had revenue of $252.20 million during the quarter, compared to the consensus estimate of $250.85 million. During the same quarter in the previous year, the firm posted $0.96 EPS. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. Sell-side analysts predict that Onto Innovation Inc. will post 5.22 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Needham & Company LLC reduced their price objective on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a report on Friday, November 1st. Benchmark reiterated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, November 1st. Cantor Fitzgerald initiated coverage on shares of Onto Innovation in a research report on Monday. They set an “overweight” rating and a $250.00 price objective on the stock. Oppenheimer restated an “outperform” rating and issued a $275.00 target price on shares of Onto Innovation in a report on Tuesday, December 17th. Finally, Jefferies Financial Group decreased their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research note 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. Based on data from MarketBeat, Onto Innovation has an average rating of “Moderate Buy” and a consensus price target of $253.75.

Institutional Trading of Onto Innovation

A number of hedge funds and other institutional investors have recently bought and sold shares of ONTO. UMB Bank n.a. grew its stake in shares of Onto Innovation by 22.8% during the 4th quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock valued at $66,000 after acquiring an additional 74 shares during the period. HB Wealth Management LLC bought a new position in shares of Onto Innovation in the fourth quarter worth approximately $217,000. Hennion & Walsh Asset Management Inc. increased its stake in shares of Onto Innovation by 22.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 7,051 shares of the semiconductor company’s stock worth $1,175,000 after purchasing an additional 1,276 shares in the last quarter. Argent Capital Management LLC bought a new stake in shares of Onto Innovation during the 4th quarter valued at $437,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Onto Innovation by 8.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 159,346 shares of the semiconductor company’s stock valued at $26,558,000 after buying an additional 12,798 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

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.