Onto Innovation (NYSE:ONTO) Price Target Lowered to $175.00 at Jefferies Financial Group

Onto Innovation (NYSE:ONTO) had its price target decreased by Jefferies Financial Group from $245.00 to $175.00 in a research report released on Friday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the semiconductor company’s stock.

ONTO has been the subject of a number of other reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Stifel Nicolaus cut their target price on Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Oppenheimer reduced their price target on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Benchmark reiterated a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Finally, StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $231.88.

Onto Innovation Stock Down 5.0 %

NYSE:ONTO opened at $121.99 on Friday. The firm has a market capitalization of $6.01 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. Onto Innovation has a 12-month low of $120.68 and a 12-month high of $238.93. The firm has a 50-day moving average price of $164.57 and a 200 day moving average price of $178.83.

Onto Innovation (NYSE:ONTO) last posted its earnings results 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%. On average, research analysts expect that Onto Innovation will post 6.26 EPS for the current year.

Insider Transactions at Onto Innovation

In other Onto Innovation news, CEO Michael P. Plisinski sold 20,000 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the sale, the chief executive officer now directly owns 215,492 shares of the company’s stock, valued at $43,139,343.48. The trade was a 8.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Srinivas Vedula sold 827 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value 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 $3,120,715. The trade was a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,827 shares of company stock valued at $18,182,185 in the last ninety days. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Onto Innovation

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. raised its position in Onto Innovation by 52.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,435 shares of the semiconductor company’s stock worth $298,000 after acquiring an additional 493 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Onto Innovation by 287.0% in the 3rd quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock valued at $968,000 after purchasing an additional 3,458 shares during the period. Daiwa Securities Group Inc. bought a new stake in shares of Onto Innovation in the 3rd quarter valued at about $125,000. Bank of Montreal Can lifted its stake in Onto Innovation by 644.3% in the 3rd quarter. Bank of Montreal Can now owns 50,782 shares of the semiconductor company’s stock valued at $10,937,000 after purchasing an additional 43,959 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Onto Innovation by 65.2% during the third quarter. The Manufacturers Life Insurance Company now owns 185,876 shares of the semiconductor company’s stock worth $38,580,000 after purchasing an additional 73,380 shares during the period. 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.