Onto Innovation (NYSE:ONTO) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Onto Innovation (NYSE:ONTO) in a research report released on Friday,Benzinga reports. They currently have a $250.00 price target on the semiconductor company’s stock.

Several other brokerages have also recently issued reports on ONTO. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday. Jefferies Financial Group dropped their price target on 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 set a $275.00 price objective on shares of Onto Innovation in a research report on Tuesday, December 17th. Stifel Nicolaus lowered their price objective on Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Benchmark reaffirmed a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $251.25.

Onto Innovation Price Performance

Shares of Onto Innovation stock opened at $187.81 on Friday. The business has a 50 day simple moving average of $185.54 and a two-hundred day simple moving average of $190.38. The stock has a market capitalization of $9.28 billion, a P/E ratio of 46.26, a PEG ratio of 1.09 and a beta of 1.31. Onto Innovation has a 12 month low of $145.15 and a 12 month high of $238.93.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.41% and a net margin of 20.43%. As a group, research analysts anticipate that Onto Innovation will post 6.46 EPS for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In related news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael P. Plisinski sold 35,000 shares of the business’s stock in a transaction that occurred 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 directly owns 150,492 shares in the company, valued at approximately $32,986,341.48. The trade was a 18.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock worth $18,182,185 over the last quarter. 0.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Kestra Investment Management LLC purchased a new stake in shares of Onto Innovation in the 4th quarter valued at $26,000. Northwestern Mutual Wealth Management Co. grew its position 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 valued at $27,000 after acquiring an additional 108 shares in the last quarter. Mather Group LLC. increased its stake in Onto Innovation by 209.4% during the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 111 shares during the period. Versant Capital Management Inc lifted its position in shares of Onto Innovation by 532.4% during the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 197 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Onto Innovation in the fourth quarter valued at approximately $43,000. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

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.