Onto Innovation (NYSE:ONTO) Stock Price Up 3.8%

Shares of Onto Innovation Inc. (NYSE:ONTO - Get Free Report) rose 3.8% on Tuesday . The company traded as high as $190.24 and last traded at $190.07. Approximately 224,104 shares changed hands during trading, a decline of 45% from the average daily volume of 408,741 shares. The stock had previously closed at $183.07.

Wall Street Analyst Weigh In

ONTO has been the subject of a number of recent analyst reports. StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a research report on Monday, February 12th. B. Riley raised their price target on shares of Onto Innovation from $195.00 to $205.00 and gave the stock a "buy" rating in a research report on Friday, February 9th. Stifel Nicolaus raised their price target on shares of Onto Innovation from $188.00 to $215.00 and gave the stock a "buy" rating in a research report on Monday, March 25th. Benchmark raised their price objective on Onto Innovation from $145.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, February 9th. Finally, Evercore ISI began coverage on Onto Innovation in a research note on Tuesday. They issued an "outperform" rating and a $235.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Onto Innovation presently has a consensus rating of "Moderate Buy" and an average price target of $191.60.

Onto Innovation Stock Up 3.6 %

The stock has a market cap of $9.32 billion, a P/E ratio of 77.13 and a beta of 1.40. The business has a 50-day simple moving average of $181.29 and a 200-day simple moving average of $154.74.

Onto Innovation (NYSE:ONTO - Get Free Report) last issued its earnings results on Thursday, February 8th. The semiconductor company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.07. Onto Innovation had a return on equity of 10.95% and a net margin of 14.85%. The business had revenue of $219.00 million during the quarter, compared to analyst estimates of $209.06 million. During the same period in the prior year, the company posted $1.57 earnings per share. Onto Innovation's revenue was down 13.5% on a year-over-year basis. On average, analysts predict that Onto Innovation Inc. will post 4.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Onto Innovation news, VP Yoon Ah Oh sold 2,685 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $173.96, for a total transaction of $467,082.60. Following the completion of the transaction, the vice president now directly owns 16,598 shares in the company, valued at $2,887,388.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Yoon Ah Oh sold 2,685 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $173.96, for a total transaction of $467,082.60. Following the sale, the vice president now owns 16,598 shares in the company, valued at $2,887,388.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Brian Miller sold 2,800 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total value of $477,372.00. Following the sale, the director now owns 9,008 shares in the company, valued at approximately $1,535,773.92. The disclosure for this sale can be found here. Insiders sold 47,170 shares of company stock worth $8,266,955 over the last three months. 0.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Onto Innovation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ONTO. Rise Advisors LLC bought a new position in shares of Onto Innovation during the 1st quarter worth approximately $38,000. GAMMA Investing LLC raised its holdings in Onto Innovation by 41.1% in the 1st quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company's stock valued at $53,000 after acquiring an additional 85 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of Onto Innovation during the 4th quarter worth $145,000. Wellington Management Group LLP raised its holdings in shares of Onto Innovation by 13.0% during the 4th quarter. Wellington Management Group LLP now owns 844,623 shares of the semiconductor company's stock worth $129,143,000 after buying an additional 96,925 shares in the last quarter. Finally, TT International Asset Management LTD increased its holdings in Onto Innovation by 68.1% in the 4th quarter. TT International Asset Management LTD now owns 195,561 shares of the semiconductor company's stock worth $29,901,000 after purchasing an additional 79,245 shares in the last quarter. 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.