Onto Innovation Inc. (NYSE:ONTO) Receives $246.88 Average PT from Analysts

Shares of Onto Innovation Inc. (NYSE:ONTO) have earned a consensus recommendation of “Buy” from the eight brokerages that are covering the company, Marketbeat reports. Eight analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $246.88.

ONTO has been the subject of several research analyst reports. Benchmark reiterated a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $250.00 price target on shares of Onto Innovation in a report on Friday, February 7th. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Oppenheimer lowered their price objective 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, February 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th.

Onto Innovation Stock Down 1.4 %

Shares of Onto Innovation stock opened at $135.73 on Thursday. Onto Innovation has a 12-month low of $121.47 and a 12-month high of $238.93. The stock has a market capitalization of $6.69 billion, a P/E ratio of 33.43, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. The company has a 50-day simple moving average of $171.89 and a 200 day simple moving average of $180.58.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. On average, equities analysts anticipate that Onto Innovation will post 6.26 earnings per share for the current year.

Insider Transactions at Onto Innovation

In other news, CEO Michael P. Plisinski sold 20,000 shares of the firm’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total value of $4,003,800.00. Following the transaction, the chief executive officer now directly owns 215,492 shares in the company, valued at $43,139,343.48. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Srinivas Vedula sold 827 shares of Onto Innovation stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total value of $169,535.00. Following the sale, the senior vice president now directly owns 15,223 shares of the company’s stock, 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 a total of 85,827 shares of company stock worth $18,182,185 in the last quarter. 0.72% of the stock is owned by company insiders.

Institutional Trading of Onto Innovation

A number of hedge funds have recently modified their holdings of the company. Cerity Partners LLC grew its holdings in Onto Innovation by 287.0% during the third quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock valued at $968,000 after purchasing an additional 3,458 shares during the period. Geode Capital Management LLC boosted its position in shares of Onto Innovation by 1.6% during the third quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company’s stock worth $173,401,000 after purchasing an additional 13,405 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Onto Innovation by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after purchasing an additional 228,800 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of Onto Innovation by 72.0% in the 3rd quarter. HighTower Advisors LLC now owns 10,184 shares of the semiconductor company’s stock valued at $2,095,000 after buying an additional 4,263 shares during the period. Finally, Barclays PLC increased its position in shares of Onto Innovation by 1,296.7% in the 3rd quarter. Barclays PLC now owns 217,190 shares of the semiconductor company’s stock valued at $45,079,000 after buying an additional 201,640 shares in the last quarter. 98.35% of the stock is currently owned by institutional investors and hedge funds.

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.