Onto Innovation Inc. (NYSE:ONTO) SVP Sells $169,535.00 in Stock

Onto Innovation Inc. (NYSE:ONTO - Get Free Report) SVP Srinivas Vedula sold 827 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the transaction, the senior vice president now directly owns 15,223 shares of the company's stock, valued at approximately $3,120,715. This represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Onto Innovation Trading Up 4.4 %

Onto Innovation stock traded up $8.98 during trading hours on Thursday, hitting $213.65. 921,002 shares of the stock traded hands, compared to its average volume of 754,035. The company has a market cap of $10.55 billion, a PE ratio of 57.90, a PEG ratio of 0.98 and a beta of 1.29. The firm's 50-day moving average price is $172.50 and its two-hundred day moving average price is $192.05. Onto Innovation Inc. has a one year low of $141.79 and a one year high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $252.20 million for the quarter, compared to the consensus estimate of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The firm's quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.96 EPS. On average, sell-side analysts expect that Onto Innovation Inc. will post 5.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Trading of Onto Innovation

Large investors have recently modified their holdings of the company. 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 worth $25,000 after purchasing an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. increased 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 worth $27,000 after acquiring an additional 108 shares in the last quarter. Versant Capital Management Inc raised its stake in Onto Innovation by 532.4% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company's stock worth $39,000 after acquiring an additional 197 shares during the period. Eastern Bank purchased a new position in Onto Innovation during the third quarter valued at approximately $65,000. Finally, UMB Bank n.a. boosted its position in shares of Onto Innovation by 62.0% in the third quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company's stock worth $67,000 after purchasing an additional 124 shares during the period. 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.

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