Onto Innovation Inc. (NYSE:ONTO) Receives $191.60 Consensus PT from Analysts

Shares of Onto Innovation Inc. (NYSE:ONTO) have been given an average rating of “Moderate Buy” by the five ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $191.60.

Several equities analysts recently commented on the stock. Evercore ISI assumed coverage on shares of Onto Innovation in a report on Tuesday, April 16th. They set an “outperform” rating and a $235.00 price target on the stock. B. Riley boosted their price objective on shares of Onto Innovation from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Friday, February 9th. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. Stifel Nicolaus increased their price objective on shares of Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Finally, Benchmark increased their price objective on shares of Onto Innovation from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, February 9th.

Onto Innovation Stock Up 2.6 %

Onto Innovation stock opened at $200.80 on Monday. The company’s 50-day moving average price is $183.87 and its 200-day moving average price is $159.37. Onto Innovation has a twelve month low of $80.17 and a twelve month high of $204.39. The company has a market cap of $9.87 billion, a PE ratio of 81.63 and a beta of 1.40.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The firm had revenue of $219.00 million for the quarter, compared to the consensus estimate of $209.06 million. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The business’s quarterly revenue was down 13.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.57 EPS. As a group, sell-side analysts expect that Onto Innovation will post 4.7 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Yoon Ah Oh sold 1,685 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $180.00, for a total transaction of $303,300.00. Following the transaction, the vice president now directly owns 14,913 shares in the company, valued at approximately $2,684,340. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Onto Innovation news, VP Yoon Ah Oh sold 1,685 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $180.00, for a total transaction of $303,300.00. Following the transaction, the vice president now owns 14,913 shares in the company, valued at approximately $2,684,340. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Brian Miller sold 2,800 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total value of $477,372.00. Following the completion of the transaction, the director now owns 9,008 shares of the company’s stock, valued at approximately $1,535,773.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,170 shares of company stock worth $8,266,955. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Onto Innovation

Hedge funds have recently added to or reduced their stakes in the business. CWM LLC grew its position in shares of Onto Innovation by 141.3% during the 3rd quarter. CWM LLC now owns 1,559 shares of the semiconductor company’s stock valued at $199,000 after acquiring an additional 913 shares during the period. Linden Thomas Advisory Services LLC acquired a new position in Onto Innovation during the third quarter worth $1,531,000. Raymond James & Associates raised its position in shares of Onto Innovation by 72.3% during the 3rd quarter. Raymond James & Associates now owns 5,724 shares of the semiconductor company’s stock worth $730,000 after purchasing an additional 2,401 shares during the last quarter. Shaker Investments LLC OH acquired a new position in shares of Onto Innovation during the third quarter valued at approximately $298,000. Finally, Brown Advisory Inc. raised its stake in Onto Innovation by 39.7% in the 3rd quarter. Brown Advisory Inc. now owns 536,954 shares of the semiconductor company’s stock valued at $68,472,000 after purchasing an additional 152,481 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

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.