Insider Selling: Onto Innovation Inc. (NYSE:ONTO) SVP Sells $169,535.00 in Stock

Onto Innovation Inc. (NYSE:ONTO) SVP Srinivas Vedula sold 827 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 15,223 shares in the company, valued at $3,120,715. This trade represents a 5.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Onto Innovation Stock Performance

Shares of NYSE ONTO opened at $216.52 on Friday. The firm’s 50 day moving average price is $174.06 and its 200-day moving average price is $191.97. Onto Innovation Inc. has a 52-week low of $145.15 and a 52-week high of $238.93. The company has a market cap of $10.69 billion, a PE ratio of 58.68, a P/E/G ratio of 0.98 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.03. The business had revenue of $252.20 million for the quarter, compared to analysts’ expectations of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The firm’s quarterly revenue was up 21.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.96 EPS. On average, analysts forecast that Onto Innovation Inc. will post 5.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ONTO shares. Jefferies Financial Group reduced 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. Oppenheimer reaffirmed an “outperform” rating and issued a $275.00 target price on shares of Onto Innovation in a research report on Tuesday, December 17th. Needham & Company LLC lowered their price target on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Cantor Fitzgerald started coverage on shares of Onto Innovation in a report on Monday, January 13th. They issued an “overweight” rating and a $250.00 price objective on the stock. Finally, Benchmark reiterated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $253.75.

Institutional Investors Weigh In On Onto Innovation

Several large investors have recently bought and sold shares of ONTO. JPMorgan Chase & Co. boosted its holdings in shares of Onto Innovation by 12.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock valued at $416,863,000 after acquiring an additional 228,800 shares during the last quarter. State Street Corp lifted its position in Onto Innovation by 2.8% during the third quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company’s stock valued at $305,107,000 after purchasing an additional 39,367 shares during the period. Franklin Resources Inc. boosted its holdings in Onto Innovation by 4.5% in the third quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company’s stock worth $288,320,000 after purchasing an additional 54,868 shares during the last quarter. Congress Asset Management Co. grew its position in Onto Innovation by 38.1% in the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after purchasing an additional 295,869 shares during the period. Finally, Geneva Capital Management LLC raised its stake in Onto Innovation by 2.6% during the 3rd quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company’s stock valued at $195,032,000 after buying an additional 23,628 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors.

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.