Onto Innovation Inc. (NYSE:ONTO) SVP Robert Fiordalice Sells 7,049 Shares of Stock

Onto Innovation Inc. (NYSE:ONTO) SVP Robert Fiordalice sold 7,049 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $125.19, for a total value of $882,464.31. Following the completion of the sale, the senior vice president now directly owns 6,477 shares in the company, valued at $810,855.63. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Onto Innovation Stock Performance

ONTO opened at $124.98 on Tuesday. The firm has a 50 day moving average price of $118.98 and a 200 day moving average price of $102.90. The company has a market cap of $6.14 billion, a PE ratio of 35.61 and a beta of 1.36. Onto Innovation Inc. has a 1 year low of $56.02 and a 1 year high of $142.26.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, August 10th. The semiconductor company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.04). Onto Innovation had a net margin of 19.32% and a return on equity of 14.20%. The company had revenue of $190.66 million during the quarter, compared to analysts’ expectations of $203.00 million. During the same period last year, the business earned $1.28 earnings per share. The company’s revenue for the quarter was down 25.6% compared to the same quarter last year. On average, sell-side analysts predict that Onto Innovation Inc. will post 3.64 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Portside Wealth Group LLC acquired a new position in shares of Onto Innovation during the second quarter worth $889,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of Onto Innovation by 164.3% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 39,061 shares of the semiconductor company’s stock worth $4,549,000 after purchasing an additional 24,282 shares in the last quarter. Legato Capital Management LLC lifted its position in shares of Onto Innovation by 36.2% during the second quarter. Legato Capital Management LLC now owns 16,836 shares of the semiconductor company’s stock worth $1,961,000 after purchasing an additional 4,477 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Onto Innovation by 20.1% during the second quarter. Orion Portfolio Solutions LLC now owns 10,453 shares of the semiconductor company’s stock worth $1,217,000 after purchasing an additional 1,749 shares in the last quarter. Finally, Castleark Management LLC acquired a new position in shares of Onto Innovation during the second quarter worth $4,386,000. 94.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ONTO shares. Needham & Company LLC lowered Onto Innovation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Jefferies Financial Group boosted their price objective on shares of Onto Innovation from $100.00 to $123.00 in a research note on Monday, June 5th. StockNews.com initiated coverage on shares of Onto Innovation in a research note on Thursday, August 17th. They set a “hold” rating for the company. Benchmark boosted their price objective on shares of Onto Innovation from $118.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 11th. Finally, B. Riley boosted their price objective on shares of Onto Innovation from $135.00 to $140.00 in a research note on Monday, July 17th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Onto Innovation presently has a consensus rating of “Moderate Buy” and an average price target of $118.33.

About Onto Innovation

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs macro defect inspection and 2D/3D optical metrology, lithography systems, and process control analytical software worldwide. It 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; and process control software portfolio that includes solutions for standalone tools, groups of tools, and enterprise-or factory-wide suites.