Onto Innovation Inc. (NYSE:ONTO) Receives $203.75 Consensus Target Price from Brokerages

Onto Innovation Inc. (NYSE:ONTO) has earned an average rating of “Moderate Buy” from the seven analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $177.14.

ONTO has been the subject of several recent analyst reports. Oppenheimer lowered their target price on shares of Onto Innovation from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Friday. StockNews.com downgraded shares of Onto Innovation from a “hold” rating to a “sell” rating in a research note on Friday. Benchmark lowered their target price on shares of Onto Innovation from $230.00 to $190.00 and set a “buy” rating for the company in a research note on Friday. Cantor Fitzgerald restated a “neutral” rating and issued a $135.00 target price (down from $250.00) on shares of Onto Innovation in a research note on Monday, May 5th. Finally, Needham & Company LLC lowered their price objective on shares of Onto Innovation from $230.00 to $150.00 and set a “buy” rating for the company in a research note on Friday.

Onto Innovation Stock Down 30.2%

Shares of ONTO stock opened at $88.50 on Friday. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 0.89 and a beta of 1.55. The company’s 50 day moving average is $124.11 and its 200 day moving average is $159.49. Onto Innovation has a 52-week low of $85.88 and a 52-week high of $238.93.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.04. The company had revenue of $267.00 million for the quarter, compared to analyst estimates of $267.03 million. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. Onto Innovation’s revenue was up 16.5% compared to the same quarter last year. During the same period last year, the company posted $1.18 earnings per share. Analysts anticipate that Onto Innovation will post 6.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kestra Investment Management LLC acquired a new position in Onto Innovation during the fourth quarter valued at $26,000. Mather Group LLC. lifted its position in Onto Innovation by 209.4% during the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 111 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in Onto Innovation by 177.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 151 shares during the period. Banque Cantonale Vaudoise acquired a new position in Onto Innovation during the first quarter valued at $29,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in Onto Innovation by 79.4% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 244 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 108 shares during the period. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Company Profile

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.