Onto Innovation (NYSE:ONTO) Hits New 12-Month Low – Here’s What Happened

Shares of Onto Innovation Inc. (NYSE:ONTO) hit a new 52-week low during trading on Thursday . The stock traded as low as $115.70 and last traded at $116.91, with a volume of 43552 shares traded. The stock had previously closed at $125.43.

Analysts Set New Price Targets

ONTO has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. 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. Stifel Nicolaus set a $200.00 price target on Onto Innovation and gave the stock a “buy” rating in a research note on Friday, March 28th. Oppenheimer reduced their price objective on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Finally, Benchmark reiterated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Onto Innovation presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.88.

Onto Innovation Stock Performance

The stock has a fifty day simple moving average of $154.44 and a two-hundred day simple moving average of $176.24. The stock has a market cap of $5.16 billion, a PE ratio of 25.77, a PEG ratio of 0.89 and a beta of 1.29.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. On average, equities analysts predict that Onto Innovation Inc. will post 6.26 EPS for the current fiscal year.

Insider Transactions at Onto Innovation

In other news, CEO Michael P. Plisinski sold 30,000 shares of the stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the business’s stock in a transaction dated 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 directly owns 15,223 shares of the company’s stock, valued at approximately $3,120,715. This represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,827 shares of company stock valued at $18,182,185. 0.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Onto Innovation

A number of institutional investors have recently made changes to their positions in ONTO. Kestra Investment Management LLC bought a new position in shares of Onto Innovation in the 4th quarter worth about $26,000. Mather Group LLC. boosted its holdings in shares of Onto Innovation by 209.4% during the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 111 shares during the period. Johnson Financial Group Inc. bought a new position in shares of Onto Innovation during the fourth quarter worth about $38,000. Versant Capital Management Inc increased its holdings in shares of Onto Innovation by 532.4% in the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 197 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of Onto Innovation by 177.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 151 shares during the period. 98.35% of the stock is currently owned by institutional investors.

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.