Michael P. Plisinski Sells 20,000 Shares of Onto Innovation Inc. (NYSE:ONTO) Stock

Onto Innovation Inc. (NYSE:ONTO) CEO Michael P. Plisinski sold 20,000 shares of Onto Innovation stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total value of $4,003,800.00. Following the transaction, the chief executive officer now owns 215,492 shares of the company’s stock, valued at $43,139,343.48. This represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Onto Innovation Price Performance

Shares of NYSE ONTO opened at $216.52 on Friday. The stock has a market capitalization of $10.69 billion, a PE ratio of 58.68, a P/E/G ratio of 0.98 and a beta of 1.29. The business has a fifty day moving average price of $174.06 and a two-hundred day moving average price of $192.19. Onto Innovation Inc. has a fifty-two week low of $145.15 and a fifty-two week high of $238.93.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.03. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The firm had revenue of $252.20 million during the quarter, compared to analysts’ expectations of $250.85 million. During the same period in the previous year, the firm earned $0.96 EPS. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. On average, equities analysts expect that Onto Innovation Inc. will post 5.22 EPS for the current year.

Hedge Funds Weigh In On Onto Innovation

A number of institutional investors have recently modified their holdings of ONTO. Millennium Management LLC raised its holdings in shares of Onto Innovation by 304.9% during the 2nd quarter. Millennium Management LLC now owns 447,844 shares of the semiconductor company’s stock worth $98,329,000 after buying an additional 337,250 shares in the last quarter. Congress Asset Management Co. raised its holdings in shares of Onto Innovation by 38.1% during the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after buying an additional 295,869 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Onto Innovation by 811.7% during the 3rd quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company’s stock worth $66,236,000 after buying an additional 284,115 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Onto Innovation by 12.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after buying an additional 228,800 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Onto Innovation by 1,296.7% during the 3rd quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock worth $45,079,000 after buying an additional 201,640 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on ONTO. Needham & Company LLC reduced their price target on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Oppenheimer restated an “outperform” rating and issued a $275.00 price target on shares of Onto Innovation in a research note on Tuesday, December 17th. 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 target for the company. Benchmark restated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, November 1st. Finally, Jefferies Financial Group reduced their price target on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $253.75.

About Onto Innovation

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.