Onto Innovation (NYSE:ONTO) Price Target Cut to $250.00 by Analysts at Stifel Nicolaus

Onto Innovation (NYSE:ONTO) had its price objective reduced by Stifel Nicolaus from $270.00 to $250.00 in a report released on Friday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other equities analysts have also recently issued reports on ONTO. Benchmark reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, November 1st. Jefferies Financial Group lowered their price target on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday. Oppenheimer reissued an “outperform” rating and issued a $275.00 target price on shares of Onto Innovation in a research report on Tuesday, December 17th. Finally, Cantor Fitzgerald began coverage on shares of Onto Innovation in a report on Monday, January 13th. They set an “overweight” rating and a $250.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $251.25.

Onto Innovation Trading Down 10.8 %

NYSE ONTO opened at $187.81 on Friday. Onto Innovation has a 12 month low of $145.15 and a 12 month high of $238.93. The stock’s fifty day moving average price is $185.54 and its 200-day moving average price is $190.38. The stock has a market cap of $9.28 billion, a P/E ratio of 46.26, a P/E/G ratio of 1.09 and a beta of 1.31.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share 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 14.41%. As a group, analysts forecast that Onto Innovation will post 6.46 earnings per share for the current fiscal year.

Insider Activity

In other Onto Innovation news, CEO Michael P. Plisinski sold 20,000 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total value of $4,003,800.00. Following the completion of the sale, the chief executive officer now owns 215,492 shares in the company, valued at approximately $43,139,343.48. This represents a 8.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Srinivas Vedula sold 827 shares of Onto Innovation 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 sale, the senior vice president now directly owns 15,223 shares in the company, valued at $3,120,715. This trade represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,827 shares of company stock valued at $18,182,185 in the last quarter. 0.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC boosted its position in shares of Onto Innovation by 4.0% during the fourth quarter. HighTower Advisors LLC now owns 10,587 shares of the semiconductor company’s stock worth $1,765,000 after acquiring an additional 403 shares during the last quarter. Wealthfront Advisers LLC bought a new position in shares of Onto Innovation during the 4th quarter valued at about $20,182,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Onto Innovation by 18.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,782 shares of the semiconductor company’s stock valued at $2,630,000 after purchasing an additional 2,466 shares in the last quarter. AlphaQuest LLC increased its holdings in shares of Onto Innovation by 28.1% in the fourth quarter. AlphaQuest LLC now owns 2,963 shares of the semiconductor company’s stock worth $494,000 after purchasing an additional 650 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Onto Innovation by 42.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,342 shares of the semiconductor company’s stock worth $1,057,000 after buying an additional 1,878 shares in the last quarter. 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.