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

Shares of Onto Innovation Inc. (NYSE:ONTO) have received an average rating of “Buy” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $254.29.

Several equities research analysts have recently issued reports on the stock. Benchmark reissued a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, November 1st. Oppenheimer reiterated an “outperform” rating and set a $275.00 target price on shares of Onto Innovation in a report on Tuesday, December 17th. Jefferies Financial Group dropped their price target on Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, Needham & Company LLC reduced their price objective on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, November 1st.

Institutional Trading of Onto Innovation

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in shares of Onto Innovation by 12.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after purchasing an additional 228,800 shares in the last quarter. State Street Corp increased its holdings in Onto Innovation by 2.8% during the third quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company’s stock worth $305,107,000 after buying an additional 39,367 shares during the last quarter. Franklin Resources Inc. raised its position in Onto Innovation by 4.5% during the third quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company’s stock worth $288,320,000 after acquiring an additional 54,868 shares in the last quarter. Congress Asset Management Co. raised its position in Onto Innovation by 38.1% during the third quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after acquiring an additional 295,869 shares in the last quarter. Finally, Geneva Capital Management LLC lifted its stake in Onto Innovation by 2.6% in the third quarter. Geneva Capital Management LLC now owns 939,641 shares of the semiconductor company’s stock valued at $195,032,000 after acquiring an additional 23,628 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Trading Up 5.0 %

Shares of Onto Innovation stock opened at $180.03 on Friday. The stock’s fifty day simple moving average is $171.80 and its 200 day simple moving average is $193.68. The company has a market capitalization of $8.89 billion, a PE ratio of 48.79, a PEG ratio of 1.07 and a beta of 1.29. Onto Innovation has a 12 month low of $134.11 and a 12 month high of $238.93.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The company had revenue of $252.20 million for the quarter, compared to analyst estimates of $250.85 million. During the same quarter last year, the firm posted $0.96 earnings per share. Onto Innovation’s revenue was up 21.7% compared to the same quarter last year. Analysts predict that Onto Innovation will post 5.22 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.