Onto Innovation (NYSE:ONTO) Trading 6.1% Higher

Onto Innovation Inc. (NYSE:ONTO) traded up 6.1% during mid-day trading on Thursday . The company traded as high as $200.28 and last traded at $199.20. 16,024 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 532,713 shares. The stock had previously closed at $187.77.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Benchmark reissued a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, August 9th. B. Riley raised their target price on shares of Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Needham & Company LLC raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a report on Monday, August 19th. Finally, Stifel Nicolaus raised their price target on shares of Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $259.00.

Onto Innovation Stock Up 9.1 %

The firm’s 50 day simple moving average is $197.56 and its 200 day simple moving average is $201.70. The company has a market cap of $10.10 billion, a price-to-earnings ratio of 70.89 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.20 by $0.12. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The company had revenue of $242.33 million for the quarter, compared to analyst estimates of $235.43 million. During the same quarter last year, the business earned $0.79 earnings per share. Onto Innovation’s revenue was up 27.1% compared to the same quarter last year. Analysts anticipate that Onto Innovation Inc. will post 5.18 EPS for the current fiscal year.

Insider Activity at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total transaction of $264,231.00. Following the transaction, the senior vice president now owns 16,050 shares in the company, valued at $3,326,202. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.72% of the company’s stock.

Institutional Trading of Onto Innovation

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Onto Innovation by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 5,254,287 shares of the semiconductor company’s stock valued at $951,446,000 after purchasing an additional 65,472 shares during the period. Price T Rowe Associates Inc. MD raised its position in Onto Innovation by 64.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 946,879 shares of the semiconductor company’s stock valued at $144,779,000 after buying an additional 371,641 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Onto Innovation by 28.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock worth $188,115,000 after acquiring an additional 189,769 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Onto Innovation by 13.0% in the 4th quarter. Wellington Management Group LLP now owns 844,623 shares of the semiconductor company’s stock valued at $129,143,000 after purchasing an additional 96,925 shares during the period. Finally, Hood River Capital Management LLC increased its holdings in shares of Onto Innovation by 6.9% in the 1st quarter. Hood River Capital Management LLC now owns 672,230 shares of the semiconductor company’s stock valued at $121,727,000 after purchasing an additional 43,132 shares during the period. 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.