Onto Innovation (NYSE:ONTO) Upgraded at StockNews.com

Onto Innovation (NYSE:ONTO - Get Free Report) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued to investors on Thursday.

Other equities analysts have also recently issued research reports about the company. Needham & Company LLC restated a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Oppenheimer cut their price objective on shares of Onto Innovation from $275.00 to $240.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. Cantor Fitzgerald restated an "overweight" rating and issued a $250.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Stifel Nicolaus decreased their price target on Onto Innovation from $270.00 to $250.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Finally, Jefferies Financial Group lowered their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Onto Innovation has a consensus rating of "Moderate Buy" and a consensus target price of $246.88.

Onto Innovation Trading Down 6.6 %

Onto Innovation stock traded down $9.56 during midday trading on Thursday, hitting $136.10. The stock had a trading volume of 1,209,465 shares, compared to its average volume of 1,016,141. The firm's fifty day moving average is $185.04 and its two-hundred day moving average is $188.28. The company has a market capitalization of $6.71 billion, a PE ratio of 33.52, a P/E/G ratio of 0.89 and a beta of 1.31. Onto Innovation has a 52-week low of $133.19 and a 52-week high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. As a group, equities research analysts predict that Onto Innovation will post 6.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, CEO Michael P. Plisinski sold 20,000 shares of Onto Innovation stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the completion of the sale, the chief executive officer now owns 215,492 shares of the company's stock, valued at approximately $43,139,343.48. The trade was a 8.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,827 shares of company stock valued at $18,182,185. 0.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ONTO. Kestra Investment Management LLC purchased a new stake in Onto Innovation in the 4th quarter worth approximately $26,000. Mather Group LLC. boosted its stake in Onto Innovation by 209.4% during the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 111 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in Onto Innovation during the fourth quarter worth about $38,000. Versant Capital Management Inc grew 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 valued at $39,000 after acquiring an additional 197 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Onto Innovation in the 4th quarter valued at about $43,000. Hedge funds and other 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.