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

Onto Innovation Inc. (NYSE:ONTO) has been given a consensus rating of “Buy” by the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have covered the stock in the last year is $246.88.

A number of equities research analysts recently commented on ONTO shares. Oppenheimer decreased their target price on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating for the company in a research report on Thursday. Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 target price on shares of Onto Innovation in a report on Friday, February 7th. StockNews.com lowered shares of Onto Innovation from a “hold” rating to a “sell” rating in a research report on Tuesday, February 11th. Benchmark restated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research report on Friday, February 7th.

Insider Activity at Onto Innovation

In other Onto Innovation news, CEO Michael P. Plisinski sold 20,000 shares of Onto Innovation stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the transaction, the chief executive officer now directly owns 215,492 shares of the company’s stock, valued at $43,139,343.48. The trade was a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total transaction of $169,535.00. Following the transaction, the senior vice president now directly owns 15,223 shares in the company, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,827 shares of company stock worth $18,182,185 over the last 90 days. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Blue Trust Inc. increased its stake in Onto Innovation by 28,066.7% during the third quarter. Blue Trust Inc. now owns 845 shares of the semiconductor company’s stock valued at $186,000 after purchasing an additional 842 shares during the last quarter. Raymond James & Associates lifted its holdings in Onto Innovation by 106.7% in the 3rd quarter. Raymond James & Associates now owns 23,324 shares of the semiconductor company’s stock valued at $4,841,000 after acquiring an additional 12,040 shares during the last quarter. Signaturefd LLC lifted its holdings in Onto Innovation by 33.2% in the 3rd quarter. Signaturefd LLC now owns 999 shares of the semiconductor company’s stock valued at $207,000 after acquiring an additional 249 shares during the last quarter. Eastern Bank acquired a new stake in Onto Innovation in the 3rd quarter valued at about $65,000. Finally, Private Advisor Group LLC lifted its stake in Onto Innovation by 17.1% during the third quarter. Private Advisor Group LLC now owns 2,195 shares of the semiconductor company’s stock valued at $455,000 after buying an additional 321 shares in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Price Performance

Onto Innovation stock opened at $159.23 on Friday. Onto Innovation has a 1-year low of $145.15 and a 1-year high of $238.93. The firm has a market capitalization of $7.86 billion, a P/E ratio of 39.22, a price-to-earnings-growth ratio of 0.89 and a beta of 1.31. The company’s 50-day moving average is $186.90 and its 200 day moving average is $189.41.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. Research analysts anticipate that Onto Innovation will post 6.26 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.