Stifel Nicolaus Has Lowered Expectations for Onto Innovation (NYSE:ONTO) Stock Price

Onto Innovation (NYSE:ONTO) had its price target cut by research analysts at Stifel Nicolaus from $270.00 to $250.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 37.07% from the company’s previous close.

Several other research analysts have also recently commented on ONTO. Oppenheimer restated an “outperform” rating and issued a $275.00 target price on shares of Onto Innovation in a research report on Tuesday, December 17th. Needham & Company LLC restated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research report on Friday. Cantor Fitzgerald assumed coverage on shares of Onto Innovation in a research report on Monday, January 13th. They issued an “overweight” rating and a $250.00 target price for the company. Jefferies Financial Group decreased 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 report on Friday, November 1st. Finally, Benchmark restated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $251.25.

Onto Innovation Trading Down 13.4 %

NYSE:ONTO traded down $28.20 on Friday, reaching $182.39. The stock had a trading volume of 613,650 shares, compared to its average volume of 884,211. The company has a 50-day moving average of $185.54 and a 200 day moving average of $190.38. The stock has a market cap of $9.01 billion, a P/E ratio of 49.26, a price-to-earnings-growth ratio of 1.06 and a beta of 1.31. 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 earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. On average, equities analysts predict that Onto Innovation will post 5.22 EPS for the current year.

Insider Buying and Selling

In related news, SVP Srinivas Vedula sold 827 shares of the company’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 15,223 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, CEO Michael P. Plisinski sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $211.24, for a total transaction of $6,337,200.00. Following the completion of the sale, the chief executive officer now owns 185,492 shares of the company’s stock, valued at approximately $39,183,330.08. This trade represents a 13.92 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,827 shares of company stock worth $18,182,185. Corporate insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Onto Innovation

Several hedge funds have recently made changes to their positions in ONTO. Northwestern Mutual Wealth Management Co. lifted its position in shares of Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 108 shares in the last quarter. Cetera Investment Advisers lifted its position in Onto Innovation by 118.2% in the 2nd quarter. Cetera Investment Advisers now owns 9,151 shares of the semiconductor company’s stock worth $2,009,000 after buying an additional 4,958 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Onto Innovation in the 2nd quarter worth approximately $250,000. Park Avenue Securities LLC lifted its position in Onto Innovation by 78.1% in the 3rd quarter. Park Avenue Securities LLC now owns 1,883 shares of the semiconductor company’s stock worth $391,000 after buying an additional 826 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Onto Innovation by 141.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,032 shares of the semiconductor company’s stock worth $214,000 after buying an additional 605 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

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.