Onto Innovation Inc. (NYSE:ONTO) SVP Srinivas Vedula Sells 1,486 Shares

Onto Innovation Inc. (NYSE:ONTOGet Free Report) SVP Srinivas Vedula sold 1,486 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $213.40, for a total value of $317,112.40. Following the transaction, the senior vice president now directly owns 17,433 shares in the company, valued at $3,720,202.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Onto Innovation Price Performance

ONTO stock opened at $223.58 on Friday. The firm has a market cap of $11.02 billion, a PE ratio of 79.57 and a beta of 1.43. Onto Innovation Inc. has a 12 month low of $103.00 and a 12 month high of $238.13. The firm has a 50 day simple moving average of $206.30 and a 200 day simple moving average of $178.42.

Onto Innovation (NYSE:ONTOGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.08. The company had revenue of $228.80 million for the quarter, compared to analysts’ expectations of $222.60 million. Onto Innovation had a return on equity of 11.48% and a net margin of 16.43%. The firm’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 earnings per share. As a group, sell-side analysts expect that Onto Innovation Inc. will post 5.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

ONTO has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Onto Innovation in a research report on Friday, May 10th. Stifel Nicolaus increased their price objective on shares of Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a report on Monday, March 25th. Evercore ISI boosted their target price on Onto Innovation from $235.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 10th. B. Riley upped their target price on Onto Innovation from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Finally, Jefferies Financial Group began coverage on Onto Innovation in a research report on Monday, May 13th. They set a “buy” rating and a $265.00 price target on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Onto Innovation currently has an average rating of “Moderate Buy” and an average target price of $242.00.

Read Our Latest Report on Onto Innovation

Institutional Investors Weigh In On Onto Innovation

Large investors have recently made changes to their positions in the company. Fifth Third Bancorp grew its position in Onto Innovation by 198.3% during the 4th quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 115 shares in the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of Onto Innovation in the fourth quarter worth $28,000. Fidelis Capital Partners LLC acquired a new stake in shares of Onto Innovation in the first quarter worth $28,000. Huntington National Bank grew its holdings in shares of Onto Innovation by 70.3% during the third quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 102 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in Onto Innovation during the fourth quarter valued at $33,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

About Onto Innovation

(Get Free Report)

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.

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