Onto Innovation Inc. (NYSE:ONTO) CEO Sells $7,671,650.00 in Stock

Onto Innovation Inc. (NYSE:ONTO) CEO Michael P. Plisinski sold 35,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 150,492 shares of the company’s stock, valued at approximately $32,986,341.48. The trade was a 18.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Onto Innovation Price Performance

NYSE ONTO opened at $216.47 on Friday. The firm has a market cap of $10.69 billion, a PE ratio of 58.66, a price-to-earnings-growth ratio of 1.13 and a beta of 1.29. The stock’s 50 day simple moving average is $176.99 and its 200 day simple moving average is $191.81. Onto Innovation Inc. has a one year low of $145.15 and a one year high of $238.93.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. The firm had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same period last year, the company earned $0.96 EPS. As a group, equities analysts expect that Onto Innovation Inc. will post 5.22 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Cerity Partners LLC boosted its position in shares of Onto Innovation by 287.0% in the 3rd quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock worth $968,000 after purchasing an additional 3,458 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Onto Innovation by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company’s stock worth $173,401,000 after purchasing an additional 13,405 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Onto Innovation by 12.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after purchasing an additional 228,800 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Onto Innovation in the 3rd quarter worth $14,539,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 108 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ONTO. Needham & Company LLC dropped their target price on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a report on Friday, November 1st. Cantor Fitzgerald began coverage on Onto Innovation in a report on Monday, January 13th. They issued an “overweight” rating and a $250.00 target price for the company. Benchmark reissued a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. 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 report on Friday, November 1st. Finally, Oppenheimer restated an “outperform” rating and set a $275.00 price target on shares of Onto Innovation in a research report on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $253.75.

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.