Onto Innovation (NYSE:ONTO) Price Target Lowered to $240.00 at Oppenheimer

Onto Innovation (NYSE:ONTO - Free Report) had its price target trimmed by Oppenheimer from $275.00 to $240.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the semiconductor company's stock.

Several other equities research analysts also recently issued reports on ONTO. Jefferies Financial Group reduced their price objective 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. Benchmark reissued a "buy" rating and issued a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. StockNews.com cut shares of Onto Innovation from a "hold" rating to a "sell" rating in a report on Tuesday, February 11th. Stifel Nicolaus dropped their price objective on shares of Onto Innovation from $270.00 to $250.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Finally, Needham & Company LLC reissued 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 given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $246.88.

Onto Innovation Stock Down 4.7 %

Shares of Onto Innovation stock traded down $7.92 during trading on Thursday, hitting $159.23. The stock had a trading volume of 1,021,139 shares, compared to its average volume of 981,367. Onto Innovation has a 1 year low of $145.15 and a 1 year high of $238.93. The stock has a 50 day simple moving average of $187.06 and a 200 day simple moving average of $189.46. The company has a market capitalization of $7.86 billion, a PE ratio of 39.22, a P/E/G ratio of 0.90 and a beta of 1.31.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. As a group, equities analysts expect that Onto Innovation will post 6.32 earnings per share for the current fiscal year.

Insider Activity at Onto Innovation

In other news, SVP Srinivas Vedula sold 827 shares of the company's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total transaction of $169,535.00. Following the completion of the sale, the senior vice president now owns 15,223 shares in the company, valued at approximately $3,120,715. This represents a 5.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael P. Plisinski sold 20,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 215,492 shares in the company, valued at $43,139,343.48. The trade was a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,827 shares of company stock valued at $18,182,185. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Onto Innovation

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Onto Innovation by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company's stock worth $861,040,000 after buying an additional 76,233 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Onto Innovation by 9.2% in the 4th quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company's stock worth $365,380,000 after acquiring an additional 183,839 shares during the period. Franklin Resources Inc. lifted its position in Onto Innovation by 21.2% during the 4th quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company's stock worth $258,883,000 after acquiring an additional 271,470 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in Onto Innovation by 41.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company's stock valued at $252,530,000 after acquiring an additional 444,860 shares during the period. Finally, State Street Corp grew its position in shares of Onto Innovation by 2.8% in the third quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company's stock valued at $305,107,000 after purchasing an additional 39,367 shares during the last quarter. 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.