Onto Innovation Inc. (NYSE:ONTO) Given Average Rating of “Buy” by Analysts

Shares of Onto Innovation Inc. (NYSE:ONTO) have received a consensus rating of “Buy” from the eight research firms that are currently covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $246.88.

ONTO has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, February 7th. Oppenheimer dropped their price target on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a research report on Thursday. Stifel Nicolaus lowered their price objective on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Finally, Benchmark restated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th.

Onto Innovation Stock Down 4.7 %

ONTO stock opened at $159.23 on Friday. Onto Innovation has a fifty-two week low of $145.15 and a fifty-two week high of $238.93. The firm’s 50-day simple moving average is $186.90 and its 200 day simple moving average is $189.41. The stock has a market cap of $7.86 billion, a PE ratio of 39.22, a price-to-earnings-growth ratio of 0.89 and a beta of 1.31.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. Equities analysts forecast that Onto Innovation will post 6.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other Onto Innovation news, CEO Michael P. Plisinski sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the sale, the chief executive officer now owns 150,492 shares in the company, valued at $32,986,341.48. This trade represents a 18.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the transaction, the senior vice president now directly owns 15,223 shares in the company, valued at $3,120,715. This trade represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,827 shares of company stock valued at $18,182,185. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of Onto Innovation

Large investors have recently modified their holdings of the business. Kestra Investment Management LLC purchased a new position in Onto Innovation in the 4th quarter worth approximately $26,000. Mather Group LLC. boosted its holdings in Onto Innovation by 209.4% in the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock worth $27,000 after buying an additional 111 shares during the period. Johnson Financial Group Inc. bought a new position in Onto Innovation in the 4th quarter worth $38,000. Versant Capital Management Inc boosted its holdings in Onto Innovation by 532.4% in the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after buying an additional 197 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in Onto Innovation in the 4th quarter worth $43,000. 98.35% of the stock is owned by 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.