Onto Innovation (NYSE:ONTO) Stock Price Up 3.8%

Shares of Onto Innovation Inc. (NYSE:ONTO) rose 3.8% on Tuesday . The company traded as high as $190.24 and last traded at $190.07. Approximately 224,104 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 408,741 shares. The stock had previously closed at $183.07.

Wall Street Analysts Forecast Growth

ONTO has been the subject of a number of recent analyst reports. Evercore ISI assumed coverage on Onto Innovation in a report on Tuesday. They issued an “outperform” rating and a $235.00 price objective for the company. B. Riley increased their price target on shares of Onto Innovation from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Friday, February 9th. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Benchmark lifted their price target on shares of Onto Innovation from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, Stifel Nicolaus raised their price objective on Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $191.60.

Onto Innovation Price Performance

The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 73.56 and a beta of 1.40. The firm has a 50-day moving average of $181.76 and a 200 day moving average of $154.93.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.07. The firm had revenue of $219.00 million during the quarter, compared to analysts’ expectations of $209.06 million. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The company’s quarterly revenue was down 13.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.57 EPS. On average, equities analysts forecast that Onto Innovation Inc. will post 4.7 earnings per share for the current year.

Insiders Place Their Bets

In other Onto Innovation news, VP Yoon Ah Oh sold 1,685 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $180.00, for a total value of $303,300.00. Following the transaction, the vice president now owns 14,913 shares in the company, valued at $2,684,340. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, VP Yoon Ah Oh sold 1,685 shares of Onto Innovation stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $180.00, for a total transaction of $303,300.00. Following the transaction, the vice president now owns 14,913 shares of the company’s stock, valued at $2,684,340. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael P. Plisinski sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the sale, the chief executive officer now owns 235,492 shares of the company’s stock, valued at approximately $41,324,136.16. The disclosure for this sale can be found here. Insiders have sold 47,170 shares of company stock worth $8,266,955 over the last ninety days. Corporate insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Onto Innovation

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in Onto Innovation by 7.5% in the first quarter. JPMorgan Chase & Co. now owns 84,116 shares of the semiconductor company’s stock worth $7,310,000 after acquiring an additional 5,850 shares in the last quarter. Citigroup Inc. lifted its stake in Onto Innovation by 5.4% in the first quarter. Citigroup Inc. now owns 52,277 shares of the semiconductor company’s stock worth $4,543,000 after acquiring an additional 2,697 shares during the period. AlphaCrest Capital Management LLC boosted its holdings in Onto Innovation by 88.7% in the first quarter. AlphaCrest Capital Management LLC now owns 3,963 shares of the semiconductor company’s stock valued at $344,000 after acquiring an additional 1,863 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Onto Innovation by 23.3% in the 1st quarter. Bank of Montreal Can now owns 15,977 shares of the semiconductor company’s stock worth $1,392,000 after purchasing an additional 3,015 shares during the period. Finally, MetLife Investment Management LLC increased its position in shares of Onto Innovation by 55.5% during the first quarter. MetLife Investment Management LLC now owns 26,215 shares of the semiconductor company’s stock valued at $2,278,000 after buying an additional 9,352 shares during the period. Institutional investors own 98.35% 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 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.