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Onto Innovation Inc. (ONTO) receives a Buy rating from Jefferies

Onto Innovation Inc.’s recently made public that its CEO Plisinski Michael P unloaded Company’s shares for reported $7.02 million on Mar 20 ’24. In the deal valued at $175.48 per share,40,000 shares were sold. As a result of this transaction, Plisinski Michael P now holds 235,492 shares worth roughly $52.19 million.

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Then, OH Yoon Ah sold 1,685 shares, generating $303,300 in total proceeds. Upon selling the shares at $180.00, the VP, General Counsel & Corp Sec now owns 14,913 shares.

Before that, OH Yoon Ah sold 2,685 shares. Onto Innovation Inc. shares valued at $467,083 were divested by the VP, General Counsel & Corp Sec at a price of $173.96 per share. As a result of the transaction, OH Yoon Ah now holds 16,598 shares, worth roughly $3.68 million.

Jefferies initiated its Onto Innovation Inc. [ONTO] rating to a Buy in a research note published on May 13, 2024; the price target was $265. A number of analysts have revised their coverage, including B. Riley Securities’s analysts, who remained covering the stock and in early May has reiterated a ‘”a Buy”‘ rating for it. Evercore ISI began covering ONTO with “an Outperform” recommendation on April 16, 2024. Needham revised its rating on June 14, 2023. It rated ONTO as “a Hold” which previously was an “a Buy”.

Price Performance Review of ONTO

On Monday, Onto Innovation Inc. [NYSE:ONTO] saw its stock fall -1.22% to $221.62. Over the last five days, the stock has gained 6.22%. Onto Innovation Inc. shares have risen nearly 44.94% since the year began. Nevertheless, the stocks have risen 149.54% over the past one year. While a 52-week high of $233.84 was reached on 05/10/24, a 52-week low of $86.04 was recorded on 01/05/24. SMA at 50 days reached $187.48, while 200 days put it at $150.92. A total of 0.55 million shares were traded, compared to the trading of 1.0 million shares in the previous session.

Levels Of Support And Resistance For ONTO Stock

The 24-hour chart illustrates a support level at 218.36, which if violated will result in even more drops to 215.10. On the upside, there is a resistance level at 226.38. A further resistance level may holdings at 231.13. The Relative Strength Index (RSI) on the 14-day chart is 70.45, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 19.09, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 20.21%. Stochastics %K at 84.56% indicates the stock is a selling.

The most recent change occurred on April 21, 2023 when Jefferies began covering the stock and recommended ‘”a Buy”‘ rating along with a $100 price target.

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