Onto Innovation Inc. (NYSE:ONTO) SVP Sells $317,112.40 in Stock

Onto Innovation Inc. (NYSE:ONTOGet Free Report) SVP Srinivas Vedula sold 1,486 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $213.40, for a total value of $317,112.40. Following the completion of the transaction, the senior vice president now owns 17,433 shares in the company, valued at approximately $3,720,202.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Onto Innovation Stock Performance

NYSE:ONTO opened at $223.58 on Friday. Onto Innovation Inc. has a 1 year low of $103.00 and a 1 year high of $238.13. The stock has a fifty day moving average price of $206.30 and a two-hundred day moving average price of $178.42. The stock has a market capitalization of $11.02 billion, a price-to-earnings ratio of 79.57 and a beta of 1.43.

Onto Innovation (NYSE:ONTOGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.08. The business had revenue of $228.80 million during the quarter, compared to the consensus estimate of $222.60 million. Onto Innovation had a net margin of 16.43% and a return on equity of 11.48%. The business’s revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 EPS. On average, analysts predict that Onto Innovation Inc. will post 5.05 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ONTO shares. Needham & Company LLC reissued a “hold” rating on shares of Onto Innovation in a report on Friday, May 10th. B. Riley lifted their price objective on shares of Onto Innovation from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Evercore ISI upped their price objective on shares of Onto Innovation from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Jefferies Financial Group initiated coverage on shares of Onto Innovation in a research note on Monday, May 13th. They issued a “buy” rating and a $265.00 target price for the company. Finally, Stifel Nicolaus boosted their price target on shares of Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $242.00.

Get Our Latest Analysis on Onto Innovation

Institutional Investors Weigh In On Onto Innovation

Hedge funds and other institutional investors have recently modified their holdings of the stock. Swiss National Bank raised its holdings in Onto Innovation by 1.1% during the third quarter. Swiss National Bank now owns 107,541 shares of the semiconductor company’s stock worth $13,714,000 after purchasing an additional 1,200 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Onto Innovation by 38.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 601,143 shares of the semiconductor company’s stock valued at $76,658,000 after buying an additional 166,819 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Onto Innovation by 8.4% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 3,517 shares of the semiconductor company’s stock worth $448,000 after buying an additional 273 shares during the last quarter. Pathstone Family Office LLC purchased a new stake in shares of Onto Innovation in the 3rd quarter worth about $340,000. Finally, Huntington National Bank grew its stake in Onto Innovation by 70.3% in the 3rd quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 102 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Onto Innovation (NYSE:ONTO)

Receive News & Ratings for Onto Innovation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Onto Innovation and related companies with MarketBeat.com's FREE daily email newsletter.