On September 15, 2023, Mark Slicer, the Chief Financial Officer (CFO) of Onto Innovation Inc (ONTO, Financial), sold 3,005 shares of the company. This move is part of a broader trend of insider selling at Onto Innovation Inc over the past year.
Mark Slicer is a seasoned financial executive with extensive experience in the technology sector. As CFO of Onto Innovation Inc, he is responsible for the company's financial strategy and operations. His insider trading activities provide valuable insights into the company's financial health and future prospects.
Onto Innovation Inc is a leading provider of process control, combining global scale with an expanded portfolio of leading-edge technologies that include: 3D metrology spanning the chip from nanometer-scale transistors to micron-level die-interconnects; macro defect inspection of wafers and packages; metal interconnect composition; factory analytics; and lithography for advanced semiconductor packaging.
Over the past year, Mark Slicer has sold a total of 3,005 shares and purchased 0 shares. This trend is mirrored in the broader insider transaction history for Onto Innovation Inc, which shows 0 insider buys and 11 insider sells over the same timeframe.
The relationship between insider selling and stock price is complex. While insider selling can sometimes indicate a lack of confidence in the company's future prospects, it can also be a personal financial decision unrelated to the company's performance. In the case of Onto Innovation Inc, the stock price has remained relatively stable despite the insider selling.
On the day of the insider's recent sell, shares of Onto Innovation Inc were trading for $125.14 apiece, giving the stock a market cap of $6.027 billion. The price-earnings ratio is 35.16, which is higher than both the industry median of 24.31 and the company’s historical median price-earnings ratio.
According to the GuruFocus Value, which is an intrinsic value estimate based on historical multiples, a GuruFocus adjustment factor, and future estimates of business performance, Onto Innovation Inc is significantly overvalued. With a price of $125.14 and a GuruFocus Value of $84.77, the stock has a price-to-GF-Value ratio of 1.48.
In conclusion, the insider's recent sell of Onto Innovation Inc shares, along with the broader trend of insider selling at the company, may raise some concerns for investors. However, it's important to consider these transactions in the context of the company's overall financial performance and market valuation. As always, investors should conduct their own thorough research before making investment decisions.
