Onto Innovation (NYSE:ONTO) Price Target Lowered to $250.00 at Stifel Nicolaus

Onto Innovation (NYSE:ONTO) had its price objective lowered by Stifel Nicolaus from $270.00 to $250.00 in a research report released on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company’s stock.

Several other equities research analysts also recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday. Cantor Fitzgerald began coverage on shares of Onto Innovation in a research report on Monday, January 13th. They issued an “overweight” rating and a $250.00 price objective on the stock. Jefferies Financial Group dropped their target price on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Oppenheimer reiterated an “outperform” rating and issued a $275.00 price target on shares of Onto Innovation in a report on Tuesday, December 17th. Finally, Benchmark restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Onto Innovation has a consensus rating of “Moderate Buy” and a consensus price target of $251.25.

Onto Innovation Trading Down 10.8 %

Shares of NYSE ONTO opened at $187.81 on Friday. Onto Innovation has a 12-month low of $145.15 and a 12-month high of $238.93. The firm’s 50-day moving average price is $185.54 and its 200-day moving average price is $190.38. The stock has a market capitalization of $9.28 billion, a price-to-earnings ratio of 46.26, a P/E/G ratio of 1.09 and a beta of 1.31.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. Onto Innovation had a return on equity of 14.41% and a net margin of 20.43%. On average, equities analysts predict that Onto Innovation will post 6.46 EPS for the current fiscal year.

Insider Transactions at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total transaction of $169,535.00. Following the completion of the sale, the senior vice president now owns 15,223 shares in the company, valued at $3,120,715. This represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total value of $7,671,650.00. Following the completion of the transaction, the chief executive officer now owns 150,492 shares in the company, valued at $32,986,341.48. This represents a 18.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,827 shares of company stock valued at $18,182,185. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Onto Innovation

A number of institutional investors have recently added to or reduced their stakes in ONTO. Northwestern Mutual Wealth Management Co. lifted its position in shares of Onto Innovation by 675.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 108 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in Onto Innovation during the fourth quarter valued at approximately $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. Versant Capital Management Inc grew its holdings in Onto Innovation by 532.4% in 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 during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Onto Innovation during the fourth quarter worth $43,000. 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.