Onto Innovation (NYSE:ONTO) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Onto Innovation (NYSE:ONTO) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

Other equities research analysts have also issued research reports about the company. Oppenheimer reissued an “outperform” rating and set a $275.00 price target on shares of Onto Innovation in a research note on Tuesday, December 17th. Stifel Nicolaus decreased their price target on Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Benchmark reissued a “buy” rating and set a $230.00 price target 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 target on shares of Onto Innovation in a research note on Friday, February 7th. Finally, Jefferies Financial Group decreased their price target on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Onto Innovation presently has an average rating of “Moderate Buy” and an average target price of $251.25.

Onto Innovation Trading Up 3.1 %

NYSE ONTO opened at $173.80 on Tuesday. The business’s 50 day moving average is $186.30 and its two-hundred day moving average is $189.75. Onto Innovation has a 12-month low of $145.15 and a 12-month high of $238.93. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of 42.81, a PEG ratio of 1.09 and a beta of 1.31.

Onto Innovation (NYSE:ONTO) 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 14.41% and a net margin of 20.43%. Equities analysts forecast that Onto Innovation will post 6.46 earnings per share for the current fiscal year.

Insider Activity at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the transaction, the senior vice president now directly owns 15,223 shares in the company, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael P. Plisinski sold 35,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total value of $7,671,650.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,827 shares of company stock valued at $18,182,185. 0.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Kestra Investment Management LLC acquired a new stake in Onto Innovation in the 4th quarter valued at $26,000. Mather Group LLC. increased its holdings in 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 purchasing an additional 111 shares in the last quarter. Versant Capital Management Inc increased its holdings in Onto Innovation by 532.4% in the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 197 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Onto Innovation in the 4th quarter valued at $43,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Onto Innovation in the 4th quarter valued at $47,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

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.