Onto Innovation (NYSE:ONTO) Given New $180.00 Price Target at Stifel Nicolaus

Onto Innovation (NYSE:ONTO - Free Report) had its price objective trimmed by Stifel Nicolaus from $200.00 to $180.00 in a report released on Tuesday,Benzinga reports. The firm currently has a buy rating on the semiconductor company's stock.

A number of other equities research analysts also recently issued reports on ONTO. Cantor Fitzgerald reissued an "overweight" rating and issued a $250.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Oppenheimer cut their price objective on Onto Innovation from $240.00 to $150.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Jefferies Financial Group lowered their target price on shares of Onto Innovation from $245.00 to $175.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Benchmark restated a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $218.13.

Onto Innovation Price Performance

Shares of NYSE ONTO traded up $0.03 during trading on Tuesday, reaching $114.92. 613,059 shares of the stock traded hands, compared to its average volume of 792,568. The stock has a market capitalization of $5.61 billion, a P/E ratio of 28.30, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46. Onto Innovation has a 52-week low of $98.21 and a 52-week high of $238.93. The company has a 50-day moving average of $135.91 and a 200-day moving average of $169.36.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share 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 14.24%. Analysts expect that Onto Innovation will post 6.26 earnings per share for the current fiscal year.

Insider Activity at Onto Innovation

In related news, CEO Michael P. Plisinski sold 35,000 shares of the firm's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total value of $7,671,650.00. Following the completion of the sale, the chief executive officer now owns 150,492 shares of the company's stock, valued at $32,986,341.48. This trade represents a 18.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its holdings in Onto Innovation by 22.8% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company's stock worth $66,000 after buying an additional 74 shares during the period. Bridge City Capital LLC boosted its position in shares of Onto Innovation by 1.0% during the fourth quarter. Bridge City Capital LLC now owns 8,165 shares of the semiconductor company's stock valued at $1,361,000 after purchasing an additional 78 shares in the last quarter. CIBC Asset Management Inc grew its stake in Onto Innovation by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company's stock worth $256,000 after purchasing an additional 81 shares during the period. Hunter Perkins Capital Management LLC raised its holdings in Onto Innovation by 3.9% in the fourth quarter. Hunter Perkins Capital Management LLC now owns 2,415 shares of the semiconductor company's stock worth $403,000 after purchasing an additional 90 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. lifted its position in Onto Innovation by 9.5% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 1,150 shares of the semiconductor company's stock valued at $191,000 after buying an additional 100 shares during the period. 98.35% of the stock is currently owned by institutional investors.

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.