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

Shares of Onto Innovation Inc. (NYSE:ONTO) have earned an average rating of “Moderate Buy” from the five research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $191.60.

ONTO has been the subject of several recent analyst reports. Evercore ISI assumed coverage on shares of Onto Innovation in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $235.00 target price for the company. Stifel Nicolaus lifted their target price on Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, March 25th. Benchmark boosted their target price on Onto Innovation from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, February 9th. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. Finally, B. Riley boosted their price objective on Onto Innovation from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Friday, February 9th.

Onto Innovation Price Performance

ONTO opened at $200.82 on Monday. Onto Innovation has a fifty-two week low of $80.17 and a fifty-two week high of $204.39. The company has a market cap of $9.87 billion, a price-to-earnings ratio of 81.63 and a beta of 1.40. The firm has a 50 day simple moving average of $183.42 and a 200 day simple moving average of $158.42.

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

Insider Buying and Selling

In other Onto Innovation news, Director David Brian Miller sold 2,800 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total transaction of $477,372.00. Following the sale, the director now directly owns 9,008 shares of the company’s stock, valued at approximately $1,535,773.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Onto Innovation news, VP Yoon Ah Oh sold 2,685 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $173.96, for a total transaction of $467,082.60. Following the sale, the vice president now directly owns 16,598 shares of the company’s stock, valued at $2,887,388.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Brian Miller sold 2,800 shares of Onto Innovation stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total transaction of $477,372.00. Following the completion of the transaction, the director now directly 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. Over the last 90 days, insiders sold 47,170 shares of company stock worth $8,266,955. 0.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Onto Innovation

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fidelis Capital Partners LLC bought a new position in shares of Onto Innovation during the 1st quarter worth approximately $28,000. Fifth Third Bancorp lifted its holdings in Onto Innovation by 198.3% during the 4th quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 115 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in Onto Innovation during the fourth quarter worth $28,000. GAMMA Investing LLC acquired a new position in shares of Onto Innovation in the fourth quarter valued at $33,000. Finally, Rise Advisors LLC bought a new position in shares of Onto Innovation in the first quarter valued at about $38,000. Institutional investors own 98.35% of the company’s stock.

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.