Srinivas Vedula Sells 6,225 Shares of Onto Innovation Inc. (NYSE:ONTO) Stock

Onto Innovation Inc. (NYSE:ONTO) SVP Srinivas Vedula sold 6,225 shares of the stock in a transaction dated Friday, November 19th. The stock was sold at an average price of $90.31, for a total transaction of $562,179.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

NYSE ONTO opened at $92.65 on Thursday. The firm has a market capitalization of $4.57 billion, a P/E ratio of 39.76 and a beta of 1.22. The firm’s fifty day simple moving average is $79.90. Onto Innovation Inc. has a 1 year low of $42.97 and a 1 year high of $94.96.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, November 4th. The semiconductor company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. Onto Innovation had a net margin of 16.08% and a return on equity of 12.66%. The company had revenue of $200.60 million during the quarter, compared to analysts’ expectations of $195.34 million. During the same quarter in the previous year, the company earned $0.40 earnings per share. The firm’s revenue for the quarter was up 58.6% on a year-over-year basis. As a group, analysts expect that Onto Innovation Inc. will post 3.73 EPS for the current year.

Several equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a research note on Monday, November 8th. B. Riley lifted their price objective on shares of Onto Innovation from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, November 5th. Finally, Needham & Company LLC boosted their target price on shares of Onto Innovation from $81.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 5th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $98.00.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its stake in shares of Onto Innovation by 15.6% during the first quarter. FMR LLC now owns 1,209,498 shares of the semiconductor company’s stock worth $37,349,000 after purchasing an additional 163,008 shares in the last quarter. Stifel Financial Corp purchased a new stake in shares of Onto Innovation during the first quarter worth about $237,000. Ameriprise Financial Inc. increased its stake in shares of Onto Innovation by 4.9% during the first quarter. Ameriprise Financial Inc. now owns 223,752 shares of the semiconductor company’s stock worth $14,702,000 after purchasing an additional 10,378 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Onto Innovation by 50.1% during the first quarter. Captrust Financial Advisors now owns 3,608 shares of the semiconductor company’s stock worth $237,000 after purchasing an additional 1,204 shares in the last quarter. Finally, Eaton Vance Management acquired a new position in Onto Innovation during the first quarter worth about $28,000. 96.79% of the stock is owned by institutional investors.

Onto Innovation Company Profile

Onto Innovation, Inc engages in developing process control systems. It offers process control, combining global scale with an expanded portfolio of technologies that include: 3D metrology spanning the chip from nanometer-scale transistors to micron-level die-interconnects, macro defect inspection of wafers and packages, metal interconnect composition, factory analytics, and lithography for advanced semiconductor packaging.

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