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

Onto Innovation Inc. (NYSE:ONTO) has been assigned a consensus recommendation of “Buy” from the eight analysts that are currently covering the company, MarketBeat reports. Eight research analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $246.88.

ONTO has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Stifel Nicolaus dropped their target price on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a report on Friday, February 7th. StockNews.com upgraded Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. Benchmark reiterated a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Finally, Oppenheimer reduced their target price on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th.

Onto Innovation Price Performance

Shares of ONTO stock opened at $140.87 on Thursday. The business has a 50-day moving average of $170.88 and a 200 day moving average of $180.19. Onto Innovation has a 1-year low of $121.47 and a 1-year high of $238.93. The stock has a market capitalization of $6.94 billion, a PE ratio of 34.70, a P/E/G ratio of 0.89 and a beta of 1.29.

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, beating analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. Analysts anticipate that Onto Innovation will post 6.26 EPS for the current year.

Insider Transactions at Onto Innovation

In related news, SVP Srinivas Vedula sold 827 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction of $169,535.00. Following the sale, the senior vice president now owns 15,223 shares of the company’s stock, valued at $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael P. Plisinski sold 20,000 shares of the company’s stock in a transaction dated 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 owns 215,492 shares in the company, valued at approximately $43,139,343.48. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, 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

A number of hedge funds have recently made changes to their positions in the stock. Cerity Partners LLC boosted its stake in Onto Innovation by 287.0% in the 3rd quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock worth $968,000 after purchasing an additional 3,458 shares in the last quarter. Geode Capital Management LLC raised its holdings in Onto Innovation by 1.6% in the third quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company’s stock worth $173,401,000 after buying an additional 13,405 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Onto Innovation by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after buying an additional 228,800 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of Onto Innovation by 72.0% during the third quarter. HighTower Advisors LLC now owns 10,184 shares of the semiconductor company’s stock valued at $2,095,000 after buying an additional 4,263 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Onto Innovation by 1,296.7% during the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock valued at $45,079,000 after acquiring an additional 201,640 shares in the last quarter. 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.