Onto Innovation (NYSE:ONTO) Price Target Cut to $240.00 by Analysts at Oppenheimer

Onto Innovation (NYSE:ONTO) had its target price lowered by Oppenheimer from $275.00 to $240.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the semiconductor company’s stock.

Other equities analysts have also recently issued research reports about the company. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Jefferies Financial Group reduced 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. Stifel Nicolaus dropped their price target on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Benchmark reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Finally, StockNews.com lowered shares of Onto Innovation from a “hold” rating to a “sell” rating in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $246.88.

Onto Innovation Trading Down 2.1 %

Shares of NYSE ONTO opened at $167.29 on Thursday. Onto Innovation has a 1-year low of $145.15 and a 1-year high of $238.93. The company has a 50-day moving average of $187.05 and a two-hundred day moving average of $189.61. The company has a market cap of $8.26 billion, a PE ratio of 41.21, a P/E/G ratio of 0.90 and a beta of 1.31.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share 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%. As a group, equities research analysts forecast that Onto Innovation will post 6.32 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Michael P. Plisinski sold 20,000 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 215,492 shares in the company, valued at $43,139,343.48. This represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Srinivas Vedula sold 827 shares of the 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 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 85,827 shares of company stock valued at $18,182,185. 0.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On Onto Innovation

A number of large investors have recently added to or reduced their stakes in the company. Creative Planning boosted its position in shares of Onto Innovation by 1.8% during the third quarter. Creative Planning now owns 28,215 shares of the semiconductor company’s stock worth $5,856,000 after buying an additional 489 shares during the period. Blue Trust Inc. boosted its position in Onto Innovation by 28,066.7% during the 3rd quarter. Blue Trust Inc. now owns 845 shares of the semiconductor company’s stock worth $186,000 after acquiring an additional 842 shares during the last quarter. Raymond James & Associates grew its stake in shares of Onto Innovation by 106.7% during the 3rd quarter. Raymond James & Associates now owns 23,324 shares of the semiconductor company’s stock worth $4,841,000 after acquiring an additional 12,040 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Onto Innovation by 2.4% in the third quarter. Sequoia Financial Advisors LLC now owns 20,113 shares of the semiconductor company’s stock valued at $4,175,000 after purchasing an additional 480 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Onto Innovation by 33.2% in the third quarter. Signaturefd LLC now owns 999 shares of the semiconductor company’s stock worth $207,000 after purchasing an additional 249 shares in the last quarter. 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.