Onto Innovation (NYSE:ONTO) Sets New 1-Year Low – Should You Sell?

Onto Innovation Inc. (NYSE:ONTO)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $115.70 and last traded at $116.91, with a volume of 43552 shares changing hands. The stock had previously closed at $125.43.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ONTO. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Jefferies Financial Group lowered their price target on Onto Innovation from $245.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Stifel Nicolaus set a $200.00 price objective on Onto Innovation and gave the company a “buy” rating in a research note on Friday, March 28th. Finally, Oppenheimer lowered their target price on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $231.88.

Onto Innovation Stock Performance

The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 0.89 and a beta of 1.29. The firm has a fifty day moving average price of $154.44 and a 200 day moving average price of $176.24.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. Research analysts predict that Onto Innovation Inc. will post 6.26 earnings per share for the current fiscal year.

Insider Transactions at Onto Innovation

In other Onto Innovation news, 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 transaction, the senior vice president now owns 15,223 shares of the company’s stock, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael P. Plisinski sold 35,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total value of $7,671,650.00. Following the completion of 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. Insiders sold 85,827 shares of company stock valued at $18,182,185 in the last 90 days. 0.72% of the stock is currently owned by insiders.

Institutional Trading of Onto Innovation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ONTO. Kestra Investment Management LLC purchased a new stake in shares of Onto Innovation during the fourth quarter worth about $26,000. Mather Group LLC. raised its holdings in Onto Innovation by 209.4% in the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 111 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Onto Innovation during the fourth quarter worth $38,000. Versant Capital Management Inc grew its position in shares of Onto Innovation by 532.4% in the fourth 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 period. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Onto Innovation by 177.6% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 151 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

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.