Onto Innovation (NYSE:ONTO) Price Target Cut to $180.00 by Analysts at Stifel Nicolaus

Onto Innovation (NYSE:ONTO) had its price objective cut by Stifel Nicolaus from $200.00 to $180.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other research firms also recently weighed in on ONTO. Oppenheimer decreased their target price on Onto Innovation from $240.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Jefferies Financial Group reduced their target price on shares of Onto Innovation from $245.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Needham & Company LLC restated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Benchmark reiterated a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.13.

Onto Innovation Stock Performance

Onto Innovation stock opened at $120.32 on Tuesday. The stock has a market capitalization of $5.93 billion, a P/E ratio of 29.63, a P/E/G ratio of 0.89 and a beta of 1.46. The company’s fifty day moving average price is $139.97 and its 200 day moving average price is $170.98. Onto Innovation has a 1 year low of $98.21 and a 1 year high of $238.93.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts predict that Onto Innovation will post 6.26 EPS for the current year.

Insider Transactions at Onto Innovation

In other news, CEO Michael P. Plisinski sold 35,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the completion of the transaction, the chief executive officer now directly owns 150,492 shares in the company, valued at approximately $32,986,341.48. This represents a 18.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.72% of the company’s stock.

Institutional Trading of Onto Innovation

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kestra Investment Management LLC acquired a new stake in shares of Onto Innovation during the fourth quarter valued at about $26,000. Mather Group LLC. boosted its position in shares of Onto Innovation by 209.4% during the 4th 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. MassMutual Private Wealth & Trust FSB increased its holdings in Onto Innovation by 177.6% in the 1st 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. Johnson Financial Group Inc. purchased a new stake in Onto Innovation in the fourth quarter valued at approximately $38,000. Finally, Versant Capital Management Inc lifted its stake in 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. 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.