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

Shares of Onto Innovation Inc. (NYSE:ONTO) have been given a consensus recommendation of “Buy” by the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $253.75.

ONTO has been the topic of a number of recent analyst reports. Needham & Company LLC decreased their target price on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Cantor Fitzgerald started coverage on shares of Onto Innovation in a report on Monday, January 13th. They issued an “overweight” rating and a $250.00 target price for the company. Benchmark restated a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, November 1st. Jefferies Financial Group cut their target price on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, Oppenheimer reissued an “outperform” rating and issued a $275.00 price target on shares of Onto Innovation in a report on Tuesday, December 17th.

Onto Innovation Trading Up 0.1 %

ONTO opened at $183.54 on Wednesday. The company’s 50 day moving average is $179.56 and its 200 day moving average is $190.93. The company has a market cap of $9.07 billion, a price-to-earnings ratio of 49.74, a PEG ratio of 1.16 and a beta of 1.29. Onto Innovation has a 12-month low of $145.15 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.31 by $0.03. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The firm had revenue of $252.20 million during the quarter, compared to analyst estimates of $250.85 million. During the same period in the prior year, the business posted $0.96 EPS. Onto Innovation’s revenue was up 21.7% on a year-over-year basis. As a group, analysts predict that Onto Innovation will post 5.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Michael P. Plisinski sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total value of $4,003,800.00. Following the completion of the sale, the chief executive officer now directly owns 215,492 shares of the company’s stock, valued at $43,139,343.48. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Srinivas Vedula sold 827 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the sale, the senior vice president now owns 15,223 shares in the company, valued at $3,120,715. The trade was a 5.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 85,827 shares of company stock worth $18,182,185. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Onto Innovation

A number of large investors have recently made changes to their positions in the company. Quarry LP boosted its stake in shares of Onto Innovation by 232.4% during the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Onto Innovation by 675.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 108 shares during the period. Mather Group LLC. raised its stake in shares of Onto Innovation by 209.4% during the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 111 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Onto Innovation by 532.4% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 197 shares during the period. Finally, Berbice Capital Management LLC purchased a new position in Onto Innovation during the 4th quarter worth $50,000. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Company Profile

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.