Onto Innovation Inc. (NYSE:ONTO) Receives $254.29 Average Target Price from Analysts

Onto Innovation Inc. (NYSE:ONTOGet Free Report) has been given an average rating of “Buy” by the seven research firms that are presently covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $254.29.

A number of analysts have issued reports on the company. Jefferies Financial Group cut their target price on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Benchmark reaffirmed a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, November 1st. Needham & Company LLC cut 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. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $275.00 target price on shares of Onto Innovation in a research note on Tuesday, December 17th.

Read Our Latest Research Report on ONTO

Onto Innovation Stock Performance

Shares of ONTO stock opened at $189.86 on Friday. The stock’s fifty day moving average is $171.03 and its two-hundred day moving average is $192.63. The firm has a market capitalization of $9.38 billion, a P/E ratio of 51.45, a PEG ratio of 1.07 and a beta of 1.29. Onto Innovation has a fifty-two week low of $138.27 and a fifty-two week high of $238.93.

Onto Innovation (NYSE:ONTOGet Free Report) last announced its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, beating 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 EPS. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis. On average, equities analysts forecast that Onto Innovation will post 5.22 earnings per share for the current year.

Institutional Trading of Onto Innovation

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP grew its position in Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 108 shares in the last quarter. Versant Capital Management Inc grew its position in Onto Innovation by 532.4% in the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 197 shares in the last quarter. LGT Financial Advisors LLC grew its position in Onto Innovation by 58.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock valued at $54,000 after acquiring an additional 90 shares in the last quarter. Finally, Eastern Bank acquired a new position in Onto Innovation in the 3rd quarter valued at about $65,000. 98.35% of the stock is owned by institutional investors and hedge funds.

About Onto Innovation

(Get Free Report

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.

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Analyst Recommendations for Onto Innovation (NYSE:ONTO)

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