Michael P. Plisinski Sells 35,000 Shares of Onto Innovation Inc. (NYSE:ONTO) Stock

Onto Innovation Inc. (NYSE:ONTO) CEO Michael P. Plisinski sold 35,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total value of $7,671,650.00. Following the completion of the transaction, the chief executive officer now owns 150,492 shares in the company, valued at $32,986,341.48. This trade represents a 18.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Onto Innovation Stock Performance

NYSE ONTO opened at $216.47 on Friday. Onto Innovation Inc. has a twelve month low of $145.15 and a twelve month high of $238.93. The stock has a market capitalization of $10.69 billion, a PE ratio of 58.66, a P/E/G ratio of 1.13 and a beta of 1.29. The stock has a 50-day simple moving average of $176.99 and a 200 day simple moving average of $191.81.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data 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. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The business had revenue of $252.20 million during the quarter, compared to analysts’ expectations of $250.85 million. During the same quarter in the previous year, the firm earned $0.96 EPS. The firm’s revenue was up 21.7% compared to the same quarter last year. As a group, equities research analysts forecast that Onto Innovation Inc. will post 5.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Cantor Fitzgerald assumed coverage on Onto Innovation in a research note on Monday, January 13th. They issued an “overweight” rating and a $250.00 target price on the stock. Jefferies Financial Group decreased their price target on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Oppenheimer reiterated an “outperform” rating and set a $275.00 price target on shares of Onto Innovation in a research note on Tuesday, December 17th. Benchmark reiterated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research note on Friday, November 1st. Finally, Needham & Company LLC decreased their price target on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $253.75.

Hedge Funds Weigh In On Onto Innovation

Several large investors have recently added to or reduced their stakes in ONTO. Quarry LP raised its holdings in Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 108 shares in the last quarter. Versant Capital Management Inc raised its holdings in 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 acquiring an additional 197 shares in the last quarter. Berbice Capital Management LLC acquired a new position in Onto Innovation in the 4th quarter valued at approximately $50,000. Finally, Eastern Bank acquired a new position in Onto Innovation in the 3rd quarter valued at approximately $65,000. Institutional investors and hedge funds 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.