Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Onto Innovation Inc. shares valued at $264,231 were sold by Vedula Srinivas on Sep 03 ’24. At $207.24 per share, Vedula Srinivas sold 1,275 shares. The insider’s holdings dropped to 16,050 shares worth approximately $3.01 million following the completion of this transaction.
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Also, SRINIVAS VEDULA purchased 1,275 shares, netting a total of over 264,231 in proceeds.
Before that, Vedula Srinivas had sold 1,486 shares from its account. In a trade valued at $317,112, the SVP, Customer Success traded Onto Innovation Inc. shares for $213.40 each. Upon closing the transaction, the insider’s holdings decreased to 1,486 shares, worth approximately $3.27 million.
As published in a research note from Needham on August 19, 2024, Onto Innovation Inc. [ONTO] has been rated up from a Hold to a Buy. Analysts at Jefferies started covering the stock with ‘”a Buy”‘ outlook in a report released in mid May. As of May 10, 2024, B. Riley Securities has reiterated its “Buy” rating for ONTO. Earlier on April 16, 2024, Evercore ISI initiated its rating. Their recommendation was “an Outperform” for ONTO stock.
Analyzing ONTO Stock Performance
During the last five days, there has been a drop of approximately -3.39%. Over the course of the year, Onto Innovation Inc. shares have jumped approximately 22.81%. Shares of the company reached a 52-week high of $238.93 on 07/16/24 and a 52-week low of $134.11 on 01/05/24. A 50-day SMA is recorded $197.99, while a 200-day SMA reached $187.75. Nevertheless, trading volume fell to 0.51 million shares from 0.52 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 185.23, which, if violated, would cause prices to drop to 182.69. In the upper region, resistance lies at 192.54. The next price resistance is at 197.31. RSI (Relative Strength Index) is 45.17 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.63, which suggests the price will decrease in the coming days. Percent R is at 70.22%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
