Onto Innovation (NYSE:ONTO) Posts Earnings Results, Beats Estimates By $0.10 EPS

Onto Innovation (NYSE:ONTO) announced its quarterly earnings results on Thursday. The semiconductor company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10, Zacks reports. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%.

Onto Innovation Stock Performance

Onto Innovation stock traded up $1.16 during midday trading on Thursday, hitting $210.86. 1,392,547 shares of the company’s stock were exchanged, compared to its average volume of 884,589. Onto Innovation has a 12-month low of $145.15 and a 12-month high of $238.93. The stock has a market cap of $10.41 billion, a price-to-earnings ratio of 57.14, a price-to-earnings-growth ratio of 1.06 and a beta of 1.31. The firm’s 50 day simple moving average is $184.54 and its 200 day simple moving average is $190.24.

Insider Transactions at Onto Innovation

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

Wall Street Analysts Forecast Growth

ONTO has been the topic of several research reports. Cantor Fitzgerald assumed coverage on shares of Onto Innovation in a report on Monday, January 13th. They set an “overweight” rating and a $250.00 price objective on the stock. Needham & Company LLC lowered their price objective on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Jefferies Financial Group decreased their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Oppenheimer reiterated an “outperform” rating and issued a $275.00 price objective on shares of Onto Innovation in a research report on Tuesday, December 17th. Finally, Benchmark reiterated a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.