Onto Innovation (NYSE:ONTO) Downgraded to “Sell” Rating by StockNews.com

StockNews.com downgraded shares of Onto Innovation (NYSE:ONTO) from a hold rating to a sell rating in a research report released on Tuesday.

A number of other research analysts have also weighed in on the company. Stifel Nicolaus decreased their target price on Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Benchmark reissued a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Jefferies Financial Group dropped their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a report on Friday, November 1st. Oppenheimer restated an “outperform” rating and set a $275.00 price target on shares of Onto Innovation in a report on Tuesday, December 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 target price on shares of Onto Innovation in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $251.25.

Onto Innovation Stock Down 3.9 %

Shares of Onto Innovation stock opened at $176.15 on Tuesday. The stock has a market cap of $8.70 billion, a PE ratio of 43.39, a price-to-earnings-growth ratio of 1.09 and a beta of 1.31. The business has a fifty day simple moving average of $186.26 and a 200 day simple moving average of $189.99. Onto Innovation has a 12 month low of $145.15 and a 12 month high of $238.93.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.41%. Analysts expect that Onto Innovation will post 6.46 EPS for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the transaction, the senior vice president now directly owns 15,223 shares in the company, valued at $3,120,715. This represents a 5.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael P. Plisinski sold 35,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $32,986,341.48. This represents a 18.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,827 shares of company stock worth $18,182,185 over the last three months. 0.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Onto Innovation

Hedge funds have recently made changes to their positions in the business. Pier Capital LLC purchased a new stake in Onto Innovation in the fourth quarter worth about $8,600,000. Zions Bancorporation N.A. raised its holdings in Onto Innovation by 35.4% in the 4th quarter. Zions Bancorporation N.A. now owns 20,760 shares of the semiconductor company’s stock worth $3,460,000 after acquiring an additional 5,430 shares during the last quarter. EFG Asset Management North America Corp. increased its holdings in Onto Innovation by 99.2% in the 4th quarter. EFG Asset Management North America Corp. now owns 18,970 shares of the semiconductor company’s stock worth $3,160,000 after buying an additional 9,448 shares in the last quarter. Segall Bryant & Hamill LLC boosted its holdings in Onto Innovation by 4.6% in the fourth quarter. Segall Bryant & Hamill LLC now owns 113,664 shares of the semiconductor company’s stock worth $18,944,000 after purchasing an additional 4,988 shares during the last quarter. Finally, Prudential Financial Inc. lifted its holdings in Onto Innovation by 12.0% in the fourth quarter. Prudential Financial Inc. now owns 330,584 shares of the semiconductor company’s stock valued at $55,098,000 after acquiring an additional 35,307 shares during the period. 98.35% of the stock is currently owned by institutional investors.

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.