Stifel Nicolaus Issues Pessimistic Forecast for Onto Innovation (NYSE:ONTO) Stock Price

Onto Innovation (NYSE:ONTO) had its price objective lowered by Stifel Nicolaus from $200.00 to $180.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

A number of other brokerages also recently commented on ONTO. Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Oppenheimer dropped their price objective on shares of Onto Innovation from $240.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Finally, Benchmark reissued a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Onto Innovation has an average rating of “Moderate Buy” and an average price target of $218.13.

Onto Innovation Stock Down 0.4 %

Onto Innovation stock opened at $120.32 on Tuesday. Onto Innovation has a 52-week low of $98.21 and a 52-week high of $238.93. The firm has a market cap of $5.93 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46. The company’s 50 day moving average is $139.97 and its two-hundred day moving average is $170.98.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. On average, equities research analysts anticipate that Onto Innovation will post 6.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In other news, CEO Michael P. Plisinski sold 35,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total value of $7,671,650.00. Following the completion of the sale, the chief executive officer now directly owns 150,492 shares of the company’s stock, valued at approximately $32,986,341.48. This represents a 18.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by insiders.

Institutional Trading of Onto Innovation

A number of large investors have recently bought and sold shares of ONTO. Kestra Investment Management LLC purchased a new stake in shares of Onto Innovation in the fourth quarter valued at about $26,000. Mather Group LLC. raised its stake in Onto Innovation by 209.4% during the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 111 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in Onto Innovation during the 4th quarter worth approximately $38,000. Versant Capital Management Inc increased its holdings in shares of Onto Innovation by 532.4% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 197 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Onto Innovation by 177.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 151 shares during the last quarter. 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.