Analysts Set Onto Innovation Inc. (NYSE:ONTO) PT at $253.75

Onto Innovation Inc. (NYSE:ONTO) has been assigned an average rating of “Buy” from the eight research firms that are covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have issued a report on the stock in the last year is $253.75.

Several equities analysts recently weighed in on the company. Cantor Fitzgerald initiated coverage on Onto Innovation in a research report on Monday, January 13th. They set an “overweight” rating and a $250.00 target price on the stock. Oppenheimer reiterated an “outperform” rating and set a $275.00 price objective on shares of Onto Innovation in a research note on Tuesday, December 17th. Jefferies Financial Group decreased their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Benchmark reiterated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research report on Friday, November 1st. Finally, Needham & Company LLC decreased their price objective on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 1st.

Onto Innovation Price Performance

Shares of Onto Innovation stock opened at $200.94 on Wednesday. Onto Innovation has a 1-year low of $145.15 and a 1-year high of $238.93. The company’s fifty day simple moving average is $182.80 and its 200-day simple moving average is $190.07. The stock has a market capitalization of $9.92 billion, a PE ratio of 54.45, a P/E/G ratio of 1.06 and a beta of 1.31.

Insider Buying and Selling

In other news, SVP Srinivas Vedula sold 827 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 15,223 shares of the company’s stock, valued at $3,120,715. This represents a 5.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael P. Plisinski sold 20,000 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total value of $4,003,800.00. Following the transaction, the chief executive officer now owns 215,492 shares of the company’s stock, valued at $43,139,343.48. This represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 85,827 shares of company stock worth $18,182,185. 0.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Onto Innovation

A number of hedge funds have recently bought and sold shares of ONTO. UMB Bank n.a. increased its position in shares of Onto Innovation by 22.8% during the 4th quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock valued at $66,000 after purchasing an additional 74 shares during the last quarter. Northwest & Ethical Investments L.P. increased its position in Onto Innovation by 7.8% during the third quarter. Northwest & Ethical Investments L.P. now owns 1,050 shares of the semiconductor company’s stock valued at $218,000 after acquiring an additional 76 shares during the last quarter. Quarry LP raised its stake in shares of Onto Innovation by 232.4% in the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 79 shares during the period. Hunter Perkins Capital Management LLC lifted its holdings in shares of Onto Innovation by 3.6% in the 3rd quarter. Hunter Perkins Capital Management LLC now owns 2,325 shares of the semiconductor company’s stock worth $483,000 after acquiring an additional 80 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of Onto Innovation by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company’s stock worth $256,000 after purchasing an additional 81 shares during the period. 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.