Onto Innovation (NYSE:ONTO) Reaches New 1-Year High at $235.42

Onto Innovation Inc. (NYSE:ONTO - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $235.42 and last traded at $232.32, with a volume of 35622 shares traded. The stock had previously closed at $233.63.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ONTO. Needham & Company LLC reissued a "hold" rating on shares of Onto Innovation in a research note on Friday, May 10th. Benchmark increased their price target on Onto Innovation from $180.00 to $230.00 and gave the company a "buy" rating in a research note on Friday, May 10th. B. Riley increased their price target on Onto Innovation from $235.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, May 10th. Jefferies Financial Group started coverage on shares of Onto Innovation in a report on Monday. They issued a "buy" rating and a $265.00 price target on the stock. Finally, Evercore ISI lifted their price target on shares of Onto Innovation from $235.00 to $250.00 and gave the stock an "outperform" rating in a report on Friday, May 10th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Onto Innovation presently has a consensus rating of "Moderate Buy" and a consensus price target of $242.00.

Onto Innovation Stock Down 4.2 %

The company's 50 day moving average price is $188.89 and its 200 day moving average price is $164.75. The firm has a market capitalization of $11.03 billion, a price-to-earnings ratio of 79.70 and a beta of 1.40.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.10 by $0.08. Onto Innovation had a net margin of 16.43% and a return on equity of 11.48%. The business had revenue of $228.80 million during the quarter, compared to the consensus estimate of $222.60 million. During the same period in the previous year, the firm posted $0.92 earnings per share. The business's revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, analysts expect that Onto Innovation Inc. will post 4.82 earnings per share for the current year.

Insider Transactions at Onto Innovation

In related news, CEO Michael P. Plisinski sold 40,000 shares of the business'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 directly owns 235,492 shares in the company, valued at $41,324,136.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Onto Innovation news, VP Yoon Ah Oh sold 2,685 shares of the company's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $173.96, for a total value of $467,082.60. Following the completion of the transaction, the vice president now owns 16,598 shares in the company, valued at $2,887,388.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael P. Plisinski sold 40,000 shares of the company's stock in a transaction dated Wednesday, March 20th. The stock was 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 approximately $41,324,136.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,370 shares of company stock worth $7,789,583. Company insiders own 0.72% of the company's stock.

Institutional Trading of Onto Innovation

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Fidelis Capital Partners LLC purchased a new stake in Onto Innovation during the 1st quarter valued at about $28,000. Fifth Third Bancorp grew its stake in shares of Onto Innovation by 198.3% in the 4th quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company's stock valued at $26,000 after buying an additional 115 shares during the period. Contravisory Investment Management Inc. purchased a new stake in shares of Onto Innovation in the 4th quarter valued at approximately $28,000. GAMMA Investing LLC purchased a new stake in shares of Onto Innovation in the 4th quarter valued at approximately $33,000. Finally, Rise Advisors LLC purchased a new stake in shares of Onto Innovation in the 1st quarter valued at approximately $38,000. Hedge funds and other institutional investors own 98.35% of the company's stock.

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.