Onto Innovation (NYSE:ONTO) Shares Up 6.3% - Still a Buy?

Shares of Onto Innovation Inc. (NYSE:ONTO - Get Free Report) were up 6.3% on Wednesday . The stock traded as high as $112.50 and last traded at $112.22. Approximately 163,319 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 759,903 shares. The stock had previously closed at $105.60.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group cut their price target on Onto Innovation from $245.00 to $175.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $250.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Stifel Nicolaus set a $200.00 target price on shares of Onto Innovation and gave the stock a "buy" rating in a research report on Friday, March 28th. StockNews.com upgraded shares of Onto Innovation from a "sell" rating to a "hold" rating in a research note on Thursday, February 27th. Finally, Oppenheimer reduced their price objective on shares of Onto Innovation from $240.00 to $150.00 and set an "outperform" rating for the company in a research note on Friday. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $220.63.

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Onto Innovation Trading Up 0.1 %

The firm has a market capitalization of $5.94 billion, a P/E ratio of 29.70, a P/E/G ratio of 0.89 and a beta of 1.46. The company's fifty day moving average is $143.57 and its 200-day moving average is $171.99.

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

Insiders Place Their Bets

In related news, SVP Srinivas Vedula sold 827 shares of Onto Innovation 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 sale, the senior vice president now directly owns 15,223 shares of the company's stock, valued at $3,120,715. This trade 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 hyperlink. Also, CEO Michael P. Plisinski sold 20,000 shares of the company'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 of the company's stock, valued at approximately $43,139,343.48. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,827 shares of company stock valued at $18,182,185 in the last three months. Company insiders own 0.72% of the company's stock.

Institutional Trading of Onto Innovation

Several institutional investors have recently modified their holdings of ONTO. Kestra Investment Management LLC bought a new position in Onto Innovation in the fourth quarter worth $26,000. Mather Group LLC. raised its stake in shares of Onto Innovation by 209.4% in the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company's stock valued at $27,000 after buying an additional 111 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Onto Innovation by 177.6% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company's stock worth $29,000 after acquiring an additional 151 shares during the period. Johnson Financial Group Inc. acquired a new stake in shares of Onto Innovation during the 4th quarter valued at about $38,000. Finally, Versant Capital Management Inc increased its stake in Onto Innovation by 532.4% in the fourth 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 period. Institutional investors and hedge funds own 98.35% of the company's stock.

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.