The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Onto Innovation Inc. shares valued at $7,019,129 were sold by Plisinski Michael P on Mar 20 ’24. At $175.48 per share, Plisinski Michael P sold 40,000 shares. The insider’s holdings dropped to 235,492 shares worth approximately $49.08 million following the completion of this transaction.
Also, OH Yoon Ah sold 1,685 shares, netting a total of over 303,300 in proceeds. Following the sale of shares at $180.00 each, the insider now holds 14,913 shares.
Before that, OH Yoon Ah had sold 2,685 shares from its account. In a trade valued at $467,083, the VP, General Counsel & Corp Sec traded Onto Innovation Inc. shares for $173.96 each. Upon closing the transaction, the insider’s holdings decreased to 2,685 shares, worth approximately $3.46 million.
As published in their initiating research note from Evercore ISI on April 16, 2024, Onto Innovation Inc. [ONTO] has been an Outperform and the price target has been revised to $235. Analysts at Needham downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid June. As of April 21, 2023, Jefferies has initiated its “Buy” rating for ONTO.
Analyzing ONTO Stock Performance
During the last five days, there has been a surge of approximately 6.49%. Over the course of the year, Onto Innovation Inc. shares have jumped approximately 36.31%. Shares of the company reached a 52-week high of $213.47 on 05/07/24 and a 52-week low of $134.11 on 01/05/24. A 50-day SMA is recorded $186.10, while a 200-day SMA reached $149.82. Nevertheless, trading volume fell to 0.68 million shares from 0.74 million shares the previous day.
Support And Resistance Levels for Onto Innovation Inc. (ONTO)
According to the 24-hour chart, there is a support level at 206.70, which, if violated, would cause prices to drop to 204.99. In the upper region, resistance lies at 211.27. The next price resistance is at 214.13. RSI (Relative Strength Index) is 65.73 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 16.60, which suggests the price will increase in the coming days. Percent R is at 10.96%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
