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

Onto Innovation Inc. (NYSE:ONTO) has earned an average recommendation of “Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have issued a report on the stock in the last year is $259.00.

A number of equities analysts recently weighed in on the stock. B. Riley lifted their target price on shares of Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Stifel Nicolaus boosted their price objective on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Benchmark reaffirmed a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, August 9th. Jefferies Financial Group initiated coverage on Onto Innovation in a research note on Monday, May 13th. They issued a “buy” rating and a $265.00 price target on the stock. Finally, Needham & Company LLC upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th.

Insider Transactions at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total transaction of $264,231.00. Following the completion of the transaction, the senior vice president now owns 16,050 shares in the company, valued at approximately $3,326,202. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is owned by insiders.

Institutional Trading of Onto Innovation

Several institutional investors have recently made changes to their positions in ONTO. Vanguard Group Inc. grew its position in Onto Innovation by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 5,254,287 shares of the semiconductor company’s stock worth $951,446,000 after purchasing an additional 65,472 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Onto Innovation by 64.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 946,879 shares of the semiconductor company’s stock worth $144,779,000 after buying an additional 371,641 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Onto Innovation by 28.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock valued at $188,115,000 after acquiring an additional 189,769 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Onto Innovation by 13.0% during the fourth quarter. Wellington Management Group LLP now owns 844,623 shares of the semiconductor company’s stock valued at $129,143,000 after acquiring an additional 96,925 shares during the last quarter. Finally, Hood River Capital Management LLC lifted its holdings in Onto Innovation by 6.9% during the first quarter. Hood River Capital Management LLC now owns 672,230 shares of the semiconductor company’s stock worth $121,727,000 after acquiring an additional 43,132 shares during the period. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Trading Down 5.5 %

NYSE ONTO opened at $177.30 on Friday. The firm has a market capitalization of $8.74 billion, a PE ratio of 63.10 and a beta of 1.37. The business’s 50-day moving average price is $203.81 and its two-hundred day moving average price is $201.17. Onto Innovation has a 12 month low of $108.98 and a 12 month high of $238.93.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, August 8th. The semiconductor company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.20 by $0.12. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The business had revenue of $242.33 million for the quarter, compared to analysts’ expectations of $235.43 million. During the same period in the prior year, the business posted $0.79 earnings per share. The firm’s revenue was up 27.1% on a year-over-year basis. As a group, analysts forecast that Onto Innovation will post 5.11 earnings per share 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.