Onto Innovation (NYSE:ONTO) Cut to "Sell" at StockNews.com

Onto Innovation (NYSE:ONTO - Get Free Report) was downgraded by equities researchers at StockNews.com from a "hold" rating to a "sell" rating in a report issued on Tuesday.

Several other research firms have also recently issued reports on ONTO. Benchmark reaffirmed a "buy" rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Oppenheimer reiterated an "outperform" rating and set a $275.00 target price on shares of Onto Innovation in a research note on Tuesday, December 17th. Jefferies Financial Group lowered 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. Cantor Fitzgerald reiterated an "overweight" rating and set a $250.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Onto Innovation has an average rating of "Moderate Buy" and an average price target of $251.25.

Onto Innovation Stock Up 1.6 %

Shares of NYSE ONTO traded up $2.83 during trading on Tuesday, reaching $176.68. 1,079,850 shares of the stock were exchanged, compared to its average volume of 884,934. The business's 50-day moving average price is $186.48 and its 200 day moving average price is $189.64. Onto Innovation has a twelve month low of $145.15 and a twelve month high of $238.93. The company has a market capitalization of $8.73 billion, a price-to-earnings ratio of 43.52, a price-to-earnings-growth ratio of 1.09 and a beta of 1.31.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.41%. As a group, sell-side analysts expect that Onto Innovation will post 6.46 earnings per share for the current fiscal year.

Insider Transactions at Onto Innovation

In related news, CEO Michael P. Plisinski sold 35,000 shares of the 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 represents a 18.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction of $169,535.00. Following the completion of the transaction, the senior vice president now owns 15,223 shares of the company's stock, valued at $3,120,715. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 85,827 shares of company stock worth $18,182,185. Insiders own 0.72% of the company's stock.

Institutional Investors Weigh In On Onto Innovation

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Freestone Grove Partners LP acquired a new stake in Onto Innovation in the 4th quarter valued at about $9,702,000. Comerica Bank lifted its holdings in Onto Innovation by 97.8% in the 4th quarter. Comerica Bank now owns 34,239 shares of the semiconductor company's stock valued at $5,707,000 after acquiring an additional 16,933 shares during the last quarter. Northern Trust Corp lifted its holdings in Onto Innovation by 21.7% in the 4th quarter. Northern Trust Corp now owns 479,478 shares of the semiconductor company's stock valued at $79,915,000 after acquiring an additional 85,492 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Onto Innovation by 32.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 246,983 shares of the semiconductor company's stock valued at $41,165,000 after acquiring an additional 61,107 shares during the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in Onto Innovation in the 4th quarter valued at about $38,000. 98.35% of the stock is owned by institutional investors and hedge funds.

About Onto Innovation

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.