Onto Innovation Inc. (NYSE:ONTO) CEO Michael P. Plisinski Sells 30,000 Shares

Onto Innovation Inc. (NYSE:ONTO - Get Free Report) CEO Michael P. Plisinski sold 30,000 shares of the firm's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $211.24, for a total transaction of $6,337,200.00. Following the completion of the transaction, the chief executive officer now directly owns 185,492 shares of the company's stock, valued at approximately $39,183,330.08. This trade represents a 13.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Onto Innovation Price Performance

Onto Innovation stock traded up $3.31 during midday trading on Tuesday, hitting $219.90. The company's stock had a trading volume of 1,389,342 shares, compared to its average volume of 806,987. The company has a market cap of $10.86 billion, a price-to-earnings ratio of 59.59, a PEG ratio of 1.12 and a beta of 1.29. Onto Innovation Inc. has a 1-year low of $145.15 and a 1-year high of $238.93. The company has a 50-day moving average price of $174.89 and a two-hundred day moving average price of $191.64.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ONTO. Quarry LP increased 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 buying an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Onto Innovation by 675.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 108 shares in the last quarter. Versant Capital Management Inc lifted its stake in Onto Innovation by 532.4% during the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company's stock worth $39,000 after purchasing an additional 197 shares during the last quarter. Berbice Capital Management LLC bought a new position in shares of Onto Innovation in the 4th quarter valued at $50,000. Finally, Eastern Bank acquired a new position in shares of Onto Innovation during the 3rd quarter worth $65,000. Institutional investors and hedge funds own 98.35% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Oppenheimer restated an "outperform" rating and issued a $275.00 price objective on shares of Onto Innovation in a report on Tuesday, December 17th. Benchmark reiterated a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, November 1st. Jefferies Financial Group lowered their price target on Onto Innovation from $265.00 to $245.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. Needham & Company LLC cut their price objective on Onto Innovation from $245.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, November 1st. Finally, Cantor Fitzgerald initiated coverage on Onto Innovation in a research note on Monday, January 13th. They issued an "overweight" rating and a $250.00 price target on the stock. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $253.75.

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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