Onto Innovation Inc. (NYSE:ONTO) Director Bruce C. Rhine sold 401 shares of the company’s stock in a transaction on Friday, June 11th. The shares were sold at an average price of $75.00, for a total value of $30,075.00. Following the completion of the sale, the director now owns 188,137 shares in the company, valued at $14,110,275. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of ONTO opened at $74.26 on Wednesday. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 61.88 and a beta of 1.22. Onto Innovation Inc. has a twelve month low of $28.08 and a twelve month high of $75.61. The company’s 50 day simple moving average is $68.02.
Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, April 29th. The semiconductor company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.04. Onto Innovation had a return on equity of 8.96% and a net margin of 10.16%. The company had revenue of $169.28 million during the quarter, compared to the consensus estimate of $162.05 million. Analysts anticipate that Onto Innovation Inc. will post 3.19 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of ONTO. First Horizon Advisors Inc. increased its position in Onto Innovation by 19.5% during the first quarter. First Horizon Advisors Inc. now owns 1,108 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 181 shares during the period. The PNC Financial Services Group Inc. lifted its position in shares of Onto Innovation by 1.1% in the 1st quarter. The PNC Financial Services Group Inc. now owns 17,234 shares of the semiconductor company’s stock worth $1,133,000 after acquiring an additional 188 shares during the period. Aperio Group LLC grew its holdings in shares of Onto Innovation by 1.8% during the 4th quarter. Aperio Group LLC now owns 16,836 shares of the semiconductor company’s stock worth $801,000 after purchasing an additional 296 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Onto Innovation in the first quarter valued at $26,000. Finally, Eaton Vance Management acquired a new position in shares of Onto Innovation in the first quarter valued at $28,000. Institutional investors and hedge funds own 95.63% of the company’s stock.
A number of equities research analysts have recently commented on ONTO shares. B. Riley lifted their price target on shares of Onto Innovation from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, April 30th. TheStreet upgraded Onto Innovation from a “c+” rating to a “b” rating in a report on Tuesday, February 23rd. DA Davidson lifted their target price on shares of Onto Innovation from $75.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, April 1st. Needham & Company LLC upped their target price on Onto Innovation from $68.00 to $76.00 and gave the stock a “buy” rating in a research report on Wednesday, April 21st. Finally, Zacks Investment Research upgraded Onto Innovation from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Monday, May 3rd. Five equities research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average target price of $75.20.
About Onto Innovation
Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs macro defect inspection and metrology, lithography systems, and process control analytical software worldwide. It offers process and yield management solutions, and device packaging and test facilities through standalone systems for macro-defect inspection, packaging lithography, probe card test and analysis, and transparent and opaque thin film measurements; and process control software portfolio that includes solutions for standalone tools, groups of tools, or factory-wide suites.
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