In a recent transaction, Michael P. Plisinski, CEO of Onto Innovation Inc. (NYSE:ONTO), sold a substantial portion of the company’s common stock. According to a filing with the Securities and Exchange Commission, Plisinski sold a total of 30,000 shares on January 16, 2025. The shares were sold at prices ranging from $211.24 to $212.11, generating a total of approximately $6.34 million. The stock, currently trading at $219.67, has shown strong momentum with a 33% return over the past year. According to InvestingPro analysis, the stock appears to be trading above its Fair Value, with technical indicators suggesting overbought conditions.
Following these transactions, Plisinski holds 185,492 shares of Onto Innovation’s common stock. The sales were executed under a Rule 10b5-1 trading plan, which had been adopted on August 26, 2024. This plan allows insiders to set up a predetermined schedule for selling shares to avoid potential conflicts of interest. With a market capitalization of $10.86 billion and an "GREAT" financial health score from InvestingPro, the company maintains strong fundamentals. Analysts maintain a bullish outlook with a consensus target above current trading levels. Discover 12 more exclusive ProTips and comprehensive analysis in the Pro Research Report.
The transactions highlight a significant movement in the holdings of Onto Innovation’s leadership, providing a noteworthy development for investors to consider.
In other recent news, Onto Innovation reported a record Q3 revenue of $252 million, marking a 22% increase year-over-year, along with a gross margin of 54.5% and a record cash generation of $67 million from operations. Analysts from Needham and Cantor Fitzgerald have expressed confidence in the company’s prospects, with Needham maintaining a Buy rating and Cantor Fitzgerald initiating coverage with an Overweight rating. Onto Innovation also announced the appointment of Mr. Ido Dolev as Executive Vice President of the Product Solutions Group.
These developments indicate that Onto Innovation is maintaining robust financial health and is strategically positioned for future growth. Despite a delay in JetStep lithography revenue, the company anticipates substantial growth in its inspection revenue, driven by strategic acquisitions and strong demand in key market segments. The company also revealed a Q4 revenue forecast between $253 million and $267 million, with gross margins of 54% to 55%.
Onto Innovation’s strategic acquisitions and capacity to increase output position it well to capitalize on market opportunities and navigate the challenges ahead. With a strong backlog and ongoing customer demand, Onto Innovation appears poised for continued success in the dynamic semiconductor industry. These are recent developments based on past articles and recent SEC filings by Onto Innovation Inc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.