Onto Innovation’s (ONTO) Hold Rating Reaffirmed at Needham & Company LLC

Onto Innovation (NYSE:ONTO)‘s stock had its “hold” rating restated by Needham & Company LLC in a report released on Friday, Benzinga reports.

Other analysts also recently issued research reports about the stock. Benchmark lifted their price target on shares of Onto Innovation from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, February 9th. B. Riley upped their price target on shares of Onto Innovation from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday. Stifel Nicolaus lifted their target price on Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, March 25th. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. Finally, Evercore ISI assumed coverage on shares of Onto Innovation in a report on Tuesday, April 16th. They set an “outperform” rating and a $235.00 price objective on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $200.60.

Onto Innovation Stock Up 1.0 %

Shares of Onto Innovation stock opened at $208.29 on Friday. The company has a market capitalization of $10.23 billion, a PE ratio of 84.67 and a beta of 1.40. Onto Innovation has a 52 week low of $86.04 and a 52 week high of $213.47. The stock’s fifty day moving average is $186.05 and its two-hundred day moving average is $161.29.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, February 8th. The semiconductor company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.99 by $0.07. The company had revenue of $219.00 million for the quarter, compared to the consensus estimate of $209.06 million. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The firm’s revenue was down 13.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.57 EPS. As a group, research analysts anticipate that Onto Innovation will post 4.7 earnings per share for the current year.

Insider Activity

In related news, CEO Michael P. Plisinski sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total value of $7,019,200.00. Following the sale, the chief executive officer now owns 235,492 shares in the company, valued at $41,324,136.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Michael P. Plisinski sold 40,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the completion of the transaction, the chief executive officer now owns 235,492 shares of the company’s stock, valued at $41,324,136.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David Brian Miller sold 2,800 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total value of $477,372.00. Following the completion of the transaction, the director now directly owns 9,008 shares of the company’s stock, valued at approximately $1,535,773.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,170 shares of company stock valued at $8,266,955. Company insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Onto Innovation

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Onto Innovation by 0.5% during the third quarter. Vanguard Group Inc. now owns 5,728,291 shares of the semiconductor company’s stock worth $730,472,000 after buying an additional 27,695 shares in the last quarter. Retirement Systems of Alabama purchased a new stake in shares of Onto Innovation during the 4th quarter worth about $9,399,000. Pacer Advisors Inc. grew its position in shares of Onto Innovation by 2,306.3% during the 4th quarter. Pacer Advisors Inc. now owns 10,997 shares of the semiconductor company’s stock valued at $1,681,000 after acquiring an additional 10,540 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Onto Innovation by 854.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 296,049 shares of the semiconductor company’s stock valued at $45,266,000 after purchasing an additional 265,042 shares in the last quarter. Finally, Raymond James & Associates increased its stake in shares of Onto Innovation by 153.6% in the 4th quarter. Raymond James & Associates now owns 14,516 shares of the semiconductor company’s stock valued at $2,219,000 after purchasing an additional 8,792 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other 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.