Jefferies Financial Group Lowers Onto Innovation (NYSE:ONTO) Price Target to $175.00

Onto Innovation (NYSE:ONTO) had its price objective trimmed by Jefferies Financial Group from $245.00 to $175.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Oppenheimer dropped their price target on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Needham & Company LLC reissued a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Finally, Benchmark reiterated a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $231.88.

Onto Innovation Trading Down 5.0 %

NYSE ONTO opened at $121.99 on Friday. The firm has a market cap of $6.01 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. Onto Innovation has a 1-year low of $120.68 and a 1-year high of $238.93. The stock has a 50-day moving average of $164.57 and a 200-day moving average of $178.70.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. As a group, equities research analysts forecast that Onto Innovation will post 6.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In related news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the transaction, the senior vice president now directly owns 15,223 shares in the company, valued at $3,120,715. This trade represents a 5.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the transaction, the chief executive officer now directly owns 150,492 shares of the company’s stock, valued at approximately $32,986,341.48. This trade represents a 18.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,827 shares of company stock valued at $18,182,185. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Onto Innovation

A number of hedge funds and other institutional investors have recently bought and sold shares of ONTO. Vanguard Group Inc. boosted its position in shares of Onto Innovation by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company’s stock worth $861,040,000 after purchasing an additional 76,233 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Onto Innovation by 9.2% in the fourth quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company’s stock worth $365,380,000 after acquiring an additional 183,839 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Onto Innovation by 21.2% in the fourth quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company’s stock worth $258,883,000 after acquiring an additional 271,470 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Onto Innovation by 41.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company’s stock valued at $252,530,000 after acquiring an additional 444,860 shares in the last quarter. Finally, State Street Corp raised its position in shares of Onto Innovation by 2.8% in the 3rd quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company’s stock worth $305,107,000 after purchasing an additional 39,367 shares during the last quarter. Hedge funds and other 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.