Insider Selling: Onto Innovation Inc. (NYSE:ONTO) CFO Sells 3,005 Shares of Stock

Onto Innovation Inc. (NYSE:ONTO) CFO Mark Slicer sold 3,005 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $125.14, for a total transaction of $376,045.70. Following the completion of the sale, the chief financial officer now owns 13,111 shares of the company’s stock, valued at $1,640,710.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Onto Innovation Price Performance

Shares of Onto Innovation stock traded up $0.59 during midday trading on Monday, hitting $124.98. 283,106 shares of the company were exchanged, compared to its average volume of 294,519. The firm has a 50 day simple moving average of $118.68 and a 200-day simple moving average of $102.62. Onto Innovation Inc. has a 52 week low of $56.02 and a 52 week high of $142.26. The firm has a market cap of $6.14 billion, a P/E ratio of 35.66 and a beta of 1.36.

Onto Innovation (NYSE:ONTO) last issued its earnings results 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 firm had revenue of $190.66 million during the quarter, compared to analyst estimates of $203.00 million. During the same quarter in the prior year, the firm posted $1.28 EPS. The firm’s revenue for the quarter was down 25.6% on a year-over-year basis. Equities research analysts expect that Onto Innovation Inc. will post 3.64 earnings per share for the current year.

Wall Street Analyst Weigh In

ONTO has been the subject of several recent analyst reports. Stifel Nicolaus upped their price objective on shares of Onto Innovation from $124.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, August 8th. Benchmark lifted their price objective on Onto Innovation from $118.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 11th. B. Riley lifted their price target on Onto Innovation from $135.00 to $140.00 in a research report on Monday, July 17th. StockNews.com assumed coverage on shares of Onto Innovation in a research note on Thursday, August 17th. They set a “hold” rating for the company. Finally, Jefferies Financial Group boosted their price target on Onto Innovation from $100.00 to $123.00 in a research note on Monday, June 5th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.33.

Institutional Trading of Onto Innovation

Several hedge funds have recently modified their holdings of the company. CWM LLC raised its holdings in shares of Onto Innovation by 16.2% in the second quarter. CWM LLC now owns 646 shares of the semiconductor company’s stock valued at $75,000 after buying an additional 90 shares during the last quarter. Stifel Financial Corp lifted its position in shares of Onto Innovation by 0.7% during the second quarter. Stifel Financial Corp now owns 16,822 shares of the semiconductor company’s stock worth $1,959,000 after purchasing an additional 115 shares in the last quarter. IMA Wealth Inc. grew its stake in shares of Onto Innovation by 0.5% during the second quarter. IMA Wealth Inc. now owns 27,868 shares of the semiconductor company’s stock valued at $3,246,000 after purchasing an additional 149 shares during the last quarter. First Republic Investment Management Inc. increased its holdings in shares of Onto Innovation by 2.0% in the fourth quarter. First Republic Investment Management Inc. now owns 8,131 shares of the semiconductor company’s stock valued at $554,000 after purchasing an additional 162 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in Onto Innovation by 51.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 516 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 175 shares during the last quarter. Institutional investors and hedge funds own 94.78% of the company’s stock.

Onto Innovation Company Profile

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.