Oppenheimer Lowers Onto Innovation (NYSE:ONTO) Price Target to $240.00

Onto Innovation (NYSE:ONTO) had its price target dropped by stock analysts at Oppenheimer from $275.00 to $240.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s price objective indicates a potential upside of 50.72% from the company’s current price.

A number of other equities research analysts have also recently weighed in on ONTO. Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Stifel Nicolaus dropped their target price on Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Benchmark reissued a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Finally, StockNews.com downgraded shares of Onto Innovation from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $246.88.

Onto Innovation Trading Down 4.7 %

Shares of ONTO opened at $159.23 on Thursday. The company’s 50-day moving average price is $187.06 and its 200 day moving average price is $189.46. Onto Innovation has a 12-month low of $145.15 and a 12-month high of $238.93. The firm has a market cap of $7.86 billion, a P/E ratio of 39.22, a price-to-earnings-growth ratio of 0.90 and a beta of 1.31.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, topping 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%. Equities research analysts forecast that Onto Innovation will post 6.32 earnings per share for the current year.

Insider Buying and Selling

In other Onto Innovation news, CEO Michael P. Plisinski sold 20,000 shares of the firm’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total value of $4,003,800.00. Following the sale, the chief executive officer now directly owns 215,492 shares in the company, valued at $43,139,343.48. This trade represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the transaction, 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. Insiders sold 85,827 shares of company stock worth $18,182,185 over the last 90 days. 0.72% of the stock is owned by insiders.

Institutional Trading of Onto Innovation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kestra Investment Management LLC purchased a new position in shares of Onto Innovation in the 4th quarter valued at $26,000. Mather Group LLC. boosted its stake in Onto Innovation by 209.4% in 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 in the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Onto Innovation during the fourth quarter worth about $38,000. Versant Capital Management Inc increased its position in shares of Onto Innovation by 532.4% during the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 197 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Onto Innovation in the 4th quarter valued at about $43,000. Institutional investors and hedge funds 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.