Michael P. Plisinski Sells 20,000 Shares of Onto Innovation Inc. (NYSE:ONTO) Stock

Onto Innovation Inc. (NYSE:ONTO - Get Free Report) CEO Michael P. Plisinski sold 20,000 shares of Onto Innovation stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total value of $4,003,800.00. Following the sale, the chief executive officer now directly owns 215,492 shares of the company's stock, valued at approximately $43,139,343.48. This trade represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Onto Innovation Price Performance

ONTO stock traded up $8.98 during trading on Thursday, hitting $213.65. 920,970 shares of the company traded hands, compared to its average volume of 754,035. Onto Innovation Inc. has a 1 year low of $141.79 and a 1 year high of $238.93. The company has a market cap of $10.55 billion, a PE ratio of 57.90, a P/E/G ratio of 0.98 and a beta of 1.29. The stock's 50-day simple moving average is $172.50 and its 200 day simple moving average is $192.05.

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

Analyst Ratings Changes

Several research firms recently weighed in on ONTO. Cantor Fitzgerald began coverage on Onto Innovation in a report on Monday. They issued an "overweight" rating and a $250.00 price objective for the company. Benchmark restated a "buy" rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, November 1st. Jefferies Financial Group dropped their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Oppenheimer reissued an "outperform" rating and set a $275.00 price objective on shares of Onto Innovation in a report on Tuesday, December 17th. Finally, Needham & Company LLC cut their price target on Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $253.75.

Institutional Investors Weigh In On Onto Innovation

Hedge funds have recently modified their holdings of the company. Millennium Management LLC raised its holdings in Onto Innovation by 304.9% in the 2nd quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company's stock worth $98,329,000 after purchasing an additional 337,250 shares during the period. Congress Asset Management Co. increased its position in shares of Onto Innovation by 38.1% in the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company's stock valued at $222,670,000 after buying an additional 295,869 shares in the last quarter. Citigroup Inc. raised its stake in shares of Onto Innovation by 811.7% during the 3rd quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company's stock worth $66,236,000 after buying an additional 284,115 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Onto Innovation by 12.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company's stock valued at $416,863,000 after buying an additional 228,800 shares in the last quarter. Finally, Barclays PLC grew its stake in Onto Innovation by 1,296.7% in the 3rd quarter. Barclays PLC now owns 217,190 shares of the semiconductor company's stock valued at $45,079,000 after acquiring an additional 201,640 shares during the period. 98.35% of the stock is 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.

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