Onto Innovation (NYSE:ONTO) Trading 6.9% Higher - Time to Buy?

Onto Innovation Inc. (NYSE:ONTO - Get Free Report) was up 6.9% during mid-day trading on Wednesday . The stock traded as high as $132.23 and last traded at $133.15. Approximately 167,146 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 1,030,859 shares. The stock had previously closed at $124.57.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ONTO shares. Stifel Nicolaus reduced 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. Needham & Company LLC reissued a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Cantor Fitzgerald reissued an "overweight" rating and set a $250.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Benchmark reissued a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Finally, StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Onto Innovation presently has a consensus rating of "Moderate Buy" and a consensus price target of $246.88.

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Onto Innovation Stock Up 3.0 %

The stock's 50 day simple moving average is $177.40 and its two-hundred day simple moving average is $182.83. The company has a market cap of $6.83 billion, a PE ratio of 34.17, a P/E/G ratio of 0.89 and a beta of 1.29.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings data 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 net margin of 20.43% and a return on equity of 14.24%. Analysts forecast that Onto Innovation Inc. will post 6.26 EPS for the current year.

Insider Transactions at Onto Innovation

In related news, SVP Srinivas Vedula sold 827 shares of the firm's stock in a transaction on 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 sale, the senior vice president now directly owns 15,223 shares of the company's stock, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael P. Plisinski sold 35,000 shares of the firm's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the sale, the chief executive officer now directly owns 150,492 shares of the company's stock, valued at approximately $32,986,341.48. The trade was a 18.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,827 shares of company stock valued at $18,182,185 over the last 90 days. Corporate insiders own 0.72% of the company's stock.

Institutional Investors Weigh In On Onto Innovation

A number of large investors have recently added to or reduced their stakes in ONTO. Kestra Investment Management LLC acquired a new stake in Onto Innovation during the 4th quarter valued at $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 valued at $27,000 after acquiring an additional 111 shares during the last quarter. Johnson Financial Group Inc. bought a new position in Onto Innovation during the 4th quarter valued at $38,000. Versant Capital Management Inc boosted 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 during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Onto Innovation during the 4th quarter valued at $43,000. 98.35% of the stock is owned by institutional investors and hedge funds.

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.