Onto Innovation (NYSE:ONTO) Trading 4.2% Higher

Onto Innovation Inc. (NYSE:ONTO)’s share price traded up 4.2% during mid-day trading on Monday . The stock traded as high as $199.07 and last traded at $196.81. 20,796 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 518,476 shares. The stock had previously closed at $188.80.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Onto Innovation in a report on Friday, May 10th. Evercore ISI boosted their price target on shares of Onto Innovation from $235.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, May 10th. Stifel Nicolaus boosted their price target on shares of Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 15th. B. Riley upped their target price on shares of Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, Jefferies Financial Group began coverage on shares of Onto Innovation in a report on Monday, May 13th. They issued a “buy” rating and a $265.00 target price on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $259.00.

Onto Innovation Stock Performance

The company’s 50-day moving average is $220.52 and its 200-day moving average is $194.88. The firm has a market cap of $9.53 billion, a price-to-earnings ratio of 68.80 and a beta of 1.39.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.08. The business had revenue of $228.80 million for 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 firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS. On average, analysts predict that Onto Innovation Inc. will post 5.05 EPS for the current year.

Insider Buying and Selling

In related news, CFO Mark Slicer sold 519 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $221.21, for a total transaction of $114,807.99. Following the transaction, the chief financial officer now owns 12,552 shares in the company, valued at approximately $2,776,627.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Onto Innovation news, SVP Srinivas Vedula sold 1,486 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $213.40, for a total transaction of $317,112.40. Following the transaction, the senior vice president now directly owns 17,433 shares in the company, valued at approximately $3,720,202.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark Slicer sold 519 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $221.21, for a total transaction of $114,807.99. Following the transaction, the chief financial officer now owns 12,552 shares in the company, valued at $2,776,627.92. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ONTO. Fifth Third Bancorp raised its position 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 valued at $26,000 after acquiring an additional 115 shares during the period. Fidelis Capital Partners LLC bought a new position in shares of Onto Innovation during the 1st quarter worth approximately $28,000. GAMMA Investing LLC bought a new position in shares of Onto Innovation during the 4th quarter worth approximately $33,000. Rise Advisors LLC bought a new position in shares of Onto Innovation during the 1st quarter worth approximately $38,000. Finally, Parallel Advisors LLC boosted its holdings in shares of Onto Innovation by 43.0% during the 4th quarter. Parallel Advisors LLC now owns 366 shares of the semiconductor company’s stock worth $56,000 after buying an additional 110 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

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.