Insider Selling: Onto Innovation Inc. (NYSE:ONTO) CEO Sells $4,003,800.00 in Stock

Onto Innovation Inc. (NYSE:ONTO) CEO Michael P. Plisinski sold 20,000 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the completion of the transaction, the chief executive officer now directly owns 215,492 shares of the company’s stock, valued at approximately $43,139,343.48. This represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Onto Innovation Price Performance

Shares of NYSE:ONTO opened at $216.52 on Friday. The stock has a market cap of $10.69 billion, a price-to-earnings ratio of 58.68, a P/E/G ratio of 0.98 and a beta of 1.29. The company has a 50 day moving average of $174.06 and a 200-day moving average of $191.97. Onto Innovation Inc. has a one year low of $145.15 and a one year high of $238.93.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. The firm had revenue of $252.20 million during the quarter, compared to analysts’ expectations of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.96 earnings per share. Equities research analysts anticipate that Onto Innovation Inc. will post 5.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Magnetar Financial LLC grew its holdings in Onto Innovation by 4.0% during the second quarter. Magnetar Financial LLC now owns 1,622 shares of the semiconductor company’s stock valued at $356,000 after purchasing an additional 63 shares during the period. UMB Bank n.a. lifted its stake in Onto Innovation by 22.8% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock valued at $66,000 after buying an additional 74 shares in the last quarter. Northwest & Ethical Investments L.P. lifted its stake in Onto Innovation by 7.8% in the third quarter. Northwest & Ethical Investments L.P. now owns 1,050 shares of the semiconductor company’s stock valued at $218,000 after buying an additional 76 shares in the last quarter. Quarry LP lifted its stake in Onto Innovation by 232.4% in the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 79 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC lifted its stake in Onto Innovation by 3.6% in the third quarter. Hunter Perkins Capital Management LLC now owns 2,325 shares of the semiconductor company’s stock valued at $483,000 after buying an additional 80 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ONTO shares. Needham & Company LLC dropped their target price on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Cantor Fitzgerald started coverage on shares of Onto Innovation in a research note on Monday, January 13th. They issued an “overweight” rating and a $250.00 target price for the company. 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 research note on Friday, November 1st. Benchmark reaffirmed a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, November 1st. Finally, Oppenheimer reiterated an “outperform” rating and set a $275.00 price target on shares of Onto Innovation in a research report on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $253.75.

About Onto Innovation

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.