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

Shares of Onto Innovation Inc. (NYSE:ONTO) have been given a consensus recommendation of “Buy” by the eight research firms that are currently covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $246.88.

Several research analysts recently issued reports on the company. Benchmark restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Oppenheimer cut their price objective on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Stifel Nicolaus cut their price objective on Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Needham & Company LLC restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Finally, StockNews.com upgraded Onto Innovation from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th.

Insider Buying and Selling at Onto Innovation

In other news, CEO Michael P. Plisinski sold 20,000 shares of the company’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the completion of the sale, the chief executive officer now directly owns 215,492 shares in the company, valued at $43,139,343.48. This represents a 8.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Srinivas Vedula sold 827 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was 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 of the company’s stock, valued at approximately $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 85,827 shares of company stock worth $18,182,185. Insiders own 0.72% of the company’s stock.

Institutional Trading of Onto Innovation

Institutional investors and hedge funds have recently made changes to their positions in the company. Kestra Investment Management LLC purchased a new stake in Onto Innovation during the 4th quarter worth $26,000. Mather Group LLC. boosted its position in Onto Innovation by 209.4% during the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 111 shares during the period. Johnson Financial Group Inc. purchased a new stake in Onto Innovation during the 4th quarter worth $38,000. Versant Capital Management Inc boosted its position in Onto Innovation by 532.4% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 197 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in Onto Innovation during the 4th quarter worth $43,000. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Price Performance

Shares of NYSE:ONTO opened at $137.45 on Thursday. The business’s 50 day simple moving average is $174.05 and its 200-day simple moving average is $181.46. The firm has a market capitalization of $6.77 billion, a price-to-earnings ratio of 33.85, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. Onto Innovation has a 12 month low of $121.47 and a 12 month high of $238.93.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. On average, equities analysts anticipate that Onto Innovation will post 6.26 earnings per share for the current year.

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.