Mark Slicer Sells 519 Shares of Onto Innovation Inc. (NYSE:ONTO) Stock

Onto Innovation Inc. (NYSE:ONTO) CFO Mark Slicer sold 519 shares of Onto Innovation stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $221.21, for a total value of $114,807.99. Following the sale, the chief financial officer now directly owns 12,552 shares in the company, valued at approximately $2,776,627.92. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Onto Innovation Trading Up 0.5 %

ONTO stock traded up $1.13 during mid-day trading on Monday, hitting $218.33. The stock had a trading volume of 274,865 shares, compared to its average volume of 441,007. The stock has a market capitalization of $10.76 billion, a price-to-earnings ratio of 77.30 and a beta of 1.43. The company has a fifty day moving average of $203.49 and a 200 day moving average of $176.63. Onto Innovation Inc. has a 1-year low of $103.00 and a 1-year high of $238.13.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.08. Onto Innovation had a return on equity of 11.48% and a net margin of 16.43%. The company had revenue of $228.80 million during the quarter, compared to the consensus estimate of $222.60 million. During the same quarter last year, the company earned $0.92 EPS. The company’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, sell-side analysts expect that Onto Innovation Inc. will post 5.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Onto Innovation

A number of hedge funds have recently modified their holdings of ONTO. Fifth Third Bancorp raised its holdings in shares of Onto Innovation by 198.3% in the 4th quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock worth $26,000 after buying an additional 115 shares in the last quarter. Contravisory Investment Management Inc. acquired a new position in shares of Onto Innovation in the 4th quarter worth approximately $28,000. Fidelis Capital Partners LLC acquired a new position in shares of Onto Innovation in the 1st quarter worth approximately $28,000. Huntington National Bank raised its holdings in shares of Onto Innovation by 70.3% in the 3rd quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock worth $31,000 after buying an additional 102 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in shares of Onto Innovation in the 4th quarter worth approximately $33,000. 98.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on ONTO. Benchmark boosted their price objective on Onto Innovation from $180.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. Evercore ISI upped their target price on Onto Innovation from $235.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, May 10th. Needham & Company LLC reissued a “hold” rating on shares of Onto Innovation in a research report on Friday, May 10th. Finally, Stifel Nicolaus upped their price target on Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.00.

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.