Onto Innovation Inc. (NYSE:ONTO) Receives $220.63 Average Price Target from Analysts

Shares of Onto Innovation Inc. (NYSE:ONTO) have received a consensus rating of “Buy” from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $218.13.

ONTO has been the subject of several recent analyst reports. Stifel Nicolaus cut their price objective on Onto Innovation from $200.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday. Benchmark reissued a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Oppenheimer decreased their price target on shares of Onto Innovation from $240.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. 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. Finally, Jefferies Financial Group lowered their price target on Onto Innovation from $245.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, March 28th.

Insider Activity

In other news, CEO Michael P. Plisinski sold 35,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the completion of the sale, the chief executive officer now owns 150,492 shares of the company’s stock, valued at approximately $32,986,341.48. This represents a 18.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Onto Innovation by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company’s stock valued at $861,040,000 after acquiring an additional 76,233 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Onto Innovation by 9.2% in the fourth quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company’s stock worth $365,380,000 after purchasing an additional 183,839 shares during the last quarter. Franklin Resources Inc. increased its holdings in Onto Innovation by 21.2% during the 4th quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company’s stock valued at $258,883,000 after purchasing an additional 271,470 shares during the period. Artisan Partners Limited Partnership raised its position in Onto Innovation by 41.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company’s stock valued at $252,530,000 after purchasing an additional 444,860 shares during the last quarter. Finally, Invesco Ltd. raised its position in Onto Innovation by 33.9% during the 4th quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company’s stock valued at $234,344,000 after purchasing an additional 356,161 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Onto Innovation Trading Down 4.9 %

Onto Innovation stock opened at $114.54 on Monday. Onto Innovation has a 1-year low of $98.21 and a 1-year high of $238.93. The firm has a market capitalization of $5.59 billion, a PE ratio of 28.21, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46. The firm’s 50 day simple moving average is $138.51 and its 200 day simple moving average is $170.59.

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