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

Shares of Onto Innovation Inc. (NYSE:ONTO) have earned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $339.60.

A number of research analysts recently commented on the company. Cantor Fitzgerald increased their price target on Onto Innovation from $350.00 to $410.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Stifel Nicolaus set a $350.00 price objective on Onto Innovation and gave the stock a “buy” rating in a report on Friday, April 17th. Evercore reaffirmed an “outperform” rating and issued a $315.00 target price on shares of Onto Innovation in a research report on Friday, April 17th. Wall Street Zen upgraded Onto Innovation from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Morgan Stanley initiated coverage on shares of Onto Innovation in a research report on Sunday, June 14th. They set an “overweight” rating and a $371.00 price target for the company.

Onto Innovation Price Performance

Shares of ONTO stock opened at $321.53 on Wednesday. Onto Innovation has a 12 month low of $89.40 and a 12 month high of $386.46. The firm has a market capitalization of $15.99 billion, a P/E ratio of 150.25, a P/E/G ratio of 1.31 and a beta of 1.55. The company’s fifty day moving average price is $294.75 and its two-hundred day moving average price is $242.56.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The company had revenue of $291.95 million during the quarter, compared to analysts’ expectations of $292.00 million. During the same period in the prior year, the company posted $1.51 EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, sell-side analysts anticipate that Onto Innovation will post 7.14 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ONTO. CoreCap Advisors LLC bought a new stake in shares of Onto Innovation in the 2nd quarter worth about $38,000. Harbor Investment Advisory LLC acquired a new stake in shares of Onto Innovation in the 2nd quarter valued at about $47,000. Millstone Evans Group LLC raised its stake in shares of Onto Innovation by 147.8% in the 1st quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 99 shares in the last quarter. Transamerica Financial Advisors LLC lifted its position in shares of Onto Innovation by 188.5% during the fourth quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 115 shares during the last quarter. Finally, Root Financial Partners LLC lifted its position in shares of Onto Innovation by 71.2% during the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 74 shares during the last quarter. 98.35% of the stock is currently owned by institutional investors.

About Onto Innovation

Onto Innovation (NYSE:ONTO) is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company’s solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.