Michael P. Plisinski Sells 35,000 Shares of Onto Innovation Inc. (NYSE:ONTO) Stock

Onto Innovation Inc. (NYSE:ONTO) 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Onto Innovation Trading Up 2.3 %

NYSE:ONTO traded up $5.09 during trading hours on Wednesday, hitting $224.76. The stock had a trading volume of 780,852 shares, compared to its average volume of 804,981. The company has a market cap of $11.10 billion, a PE ratio of 60.91, a price-to-earnings-growth ratio of 1.12 and a beta of 1.29. The business has a 50 day simple moving average of $175.80 and a two-hundred day simple moving average of $191.58. Onto Innovation Inc. has a 1-year low of $145.15 and a 1-year high of $238.93.

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

Institutional Trading of Onto Innovation

Hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. grew its holdings in Onto Innovation by 104.7% during the 4th quarter. Pacer Advisors Inc. now owns 21,672 shares of the semiconductor company’s stock worth $3,612,000 after acquiring an additional 11,086 shares in the last quarter. Hunter Perkins Capital Management LLC grew its stake in Onto Innovation by 3.9% in the fourth quarter. Hunter Perkins Capital Management LLC now owns 2,415 shares of the semiconductor company’s stock worth $403,000 after purchasing an additional 90 shares in the last quarter. KBC Group NV increased its holdings in Onto Innovation by 58.7% in the fourth quarter. KBC Group NV now owns 2,051 shares of the semiconductor company’s stock valued at $342,000 after buying an additional 759 shares during the last quarter. Blue Trust Inc. lifted its holdings in Onto Innovation by 61.8% during the 4th quarter. Blue Trust Inc. now owns 1,367 shares of the semiconductor company’s stock worth $228,000 after buying an additional 522 shares during the last quarter. Finally, Tributary Capital Management LLC grew its position in shares of Onto Innovation by 101.9% in the 4th quarter. Tributary Capital Management LLC now owns 6,091 shares of the semiconductor company’s stock worth $1,015,000 after acquiring an additional 3,074 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Upgrades and Downgrades

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