Srinivas Vedula Sells 827 Shares of Onto Innovation Inc. (NYSE:ONTO) Stock

Onto Innovation Inc. (NYSE:ONTO) SVP Srinivas Vedula sold 827 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the sale, the senior vice president now owns 15,223 shares in the company, valued at $3,120,715. This represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Onto Innovation Trading Up 4.4 %

Shares of NYSE:ONTO traded up $8.98 on Thursday, reaching $213.65. The company had a trading volume of 921,002 shares, compared to its average volume of 754,035. The firm has a market capitalization of $10.55 billion, a PE ratio of 57.90, a PEG ratio of 0.98 and a beta of 1.29. Onto Innovation Inc. has a 52-week low of $141.79 and a 52-week high of $238.93. The firm’s 50 day simple moving average is $172.50 and its 200-day simple moving average is $192.05.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The company had revenue of $252.20 million during the quarter, compared to analysts’ expectations of $250.85 million. During the same quarter in the prior year, the company posted $0.96 earnings per share. Onto Innovation’s revenue for the quarter was up 21.7% compared to the same quarter last year. As a group, equities research analysts predict that Onto Innovation Inc. will post 5.22 earnings per share for the current year.

Institutional Investors Weigh In On Onto Innovation

A number of large investors have recently modified their holdings of ONTO. Quarry LP grew its position in Onto Innovation by 232.4% during the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 79 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 108 shares during the last quarter. Versant Capital Management Inc grew its stake in Onto Innovation by 532.4% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 197 shares during the last quarter. Eastern Bank acquired a new position in shares of Onto Innovation in the third quarter valued at about $65,000. Finally, UMB Bank n.a. raised its stake in shares of Onto Innovation by 62.0% in the third quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock worth $67,000 after purchasing an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ONTO. Benchmark restated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research report on Friday, November 1st. Cantor Fitzgerald assumed coverage on Onto Innovation in a research report on Monday. They issued an “overweight” rating and a $250.00 price target for the company. Jefferies Financial Group decreased their price objective on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Oppenheimer reiterated an “outperform” rating and issued a $275.00 target price on shares of Onto Innovation in a report on Tuesday, December 17th. Finally, Needham & Company LLC decreased their price target on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Onto Innovation has a consensus rating of “Moderate Buy” and a consensus price target of $253.75.

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.