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

Onto Innovation Inc. (NYSE:ONTO) has been assigned a consensus rating of “Buy” from the seven analysts that are presently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $254.29.

A number of brokerages have recently commented on ONTO. Benchmark reissued a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, November 1st. Oppenheimer raised their price objective on Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Jefferies Financial Group decreased 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, Needham & Company LLC lowered their target price on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st.

Onto Innovation Stock Performance

ONTO stock opened at $164.75 on Friday. The stock has a 50-day moving average price of $197.60 and a two-hundred day moving average price of $206.45. The company has a market cap of $8.14 billion, a PE ratio of 44.65, a price-to-earnings-growth ratio of 1.12 and a beta of 1.37. Onto Innovation has a 12-month low of $131.78 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The firm had revenue of $252.20 million during the quarter, compared to the consensus estimate of $250.85 million. During the same quarter in the prior year, the company earned $0.96 EPS. The company’s revenue was up 21.7% on a year-over-year basis. Equities analysts forecast that Onto Innovation will post 5.19 EPS for the current fiscal year.

Insider Transactions at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total value of $264,231.00. Following the transaction, the senior vice president now owns 16,050 shares in the company, valued at approximately $3,326,202. The trade was a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of Onto Innovation

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP raised its stake in 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 buying an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings 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 valued at $27,000 after purchasing an additional 108 shares during the last quarter. LGT Financial Advisors LLC grew its holdings in shares of Onto Innovation by 58.1% during the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock valued at $54,000 after purchasing an additional 90 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Onto Innovation by 40.2% during the second quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock valued at $64,000 after purchasing an additional 84 shares during the last quarter. Finally, Eastern Bank bought a new position in shares of Onto Innovation during the third quarter valued at approximately $65,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

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.