Onto Innovation Inc. (NYSE:ONTO) Receives Average Rating of “Buy” from Brokerages

Onto Innovation Inc. (NYSE:ONTO) has earned an average rating of “Buy” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $261.67.

A number of research firms have recently weighed in on ONTO. Oppenheimer increased their target price on shares of Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Benchmark reissued a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research report on Friday, August 9th. Stifel Nicolaus boosted their target price on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Needham & Company LLC upgraded Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th.

Insider Transactions at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total value of $264,231.00. Following the completion of the transaction, the senior vice president now directly owns 16,050 shares in the company, valued at approximately $3,326,202. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of Onto Innovation

Several institutional investors and hedge funds have recently modified their holdings of ONTO. Vanguard Group Inc. raised its stake in Onto Innovation by 1.3% in the first quarter. Vanguard Group Inc. now owns 5,254,287 shares of the semiconductor company’s stock valued at $951,446,000 after purchasing an additional 65,472 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Onto Innovation by 28.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock worth $188,115,000 after buying an additional 189,769 shares during the last quarter. Hood River Capital Management LLC raised its position in shares of Onto Innovation by 6.9% during the 1st quarter. Hood River Capital Management LLC now owns 672,230 shares of the semiconductor company’s stock valued at $121,727,000 after buying an additional 43,132 shares in the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of Onto Innovation by 2.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 535,769 shares of the semiconductor company’s stock worth $117,633,000 after acquiring an additional 10,328 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Onto Innovation by 5.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 522,629 shares of the semiconductor company’s stock worth $114,748,000 after acquiring an additional 26,563 shares during the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Trading Down 0.0 %

Shares of Onto Innovation stock opened at $209.59 on Monday. The business’s fifty day simple moving average is $203.53 and its 200 day simple moving average is $205.76. Onto Innovation has a 12 month low of $108.98 and a 12 month high of $238.93. The firm has a market capitalization of $10.33 billion, a P/E ratio of 74.59, a price-to-earnings-growth ratio of 1.36 and a beta of 1.36.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, August 8th. The semiconductor company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.12. The company had revenue of $242.33 million for the quarter, compared to analysts’ expectations of $235.43 million. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The business’s revenue for the quarter was up 27.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.79 EPS. Analysts predict that Onto Innovation will post 5.18 EPS for the current fiscal year.

About Onto Innovation

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also offers process and yield management solutions, and device packaging and test facilities through standalone systems for optical metrology, macro-defect inspection, packaging lithography, and transparent and opaque thin film measurements.