Analysts Set Onto Innovation Inc. (NYSE:ONTO) Price Target at $242.00

Onto Innovation Inc. (NYSE:ONTO) has been given a consensus rating of “Moderate Buy” by the six brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $248.00.

A number of analysts have recently weighed in on ONTO shares. B. Riley boosted their target price on shares of Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Onto Innovation in a research note on Friday, May 10th. Benchmark lifted their price target on shares of Onto Innovation from $180.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Stifel Nicolaus lifted their price target on shares of Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Finally, Jefferies Financial Group started coverage on shares of Onto Innovation in a research note on Monday, May 13th. They set a “buy” rating and a $265.00 price target for the company.

Onto Innovation Stock Down 3.4 %

Onto Innovation stock opened at $221.56 on Tuesday. The company’s 50-day moving average price is $209.90 and its 200-day moving average price is $181.38. Onto Innovation has a twelve month low of $103.93 and a twelve month high of $238.13. The company has a market cap of $10.92 billion, a PE ratio of 78.85 and a beta of 1.43.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.08. Onto Innovation had a net margin of 16.43% and a return on equity of 11.48%. The firm had revenue of $228.80 million for the quarter, compared to the consensus estimate of $222.60 million. During the same period in the previous year, the firm posted $0.92 EPS. The business’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, sell-side analysts expect that Onto Innovation will post 5.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,486 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $213.40, for a total value of $317,112.40. Following the completion of the sale, the senior vice president now directly owns 17,433 shares of the company’s stock, valued at approximately $3,720,202.20. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Onto Innovation news, CFO Mark Slicer sold 519 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $221.21, for a total value of $114,807.99. Following the completion of the sale, the chief financial officer now directly owns 12,552 shares of the company’s stock, valued at approximately $2,776,627.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Srinivas Vedula sold 1,486 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $213.40, for a total transaction of $317,112.40. Following the completion of the sale, the senior vice president now directly owns 17,433 shares of the company’s stock, valued at $3,720,202.20. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Onto Innovation

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Onto Innovation by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,728,291 shares of the semiconductor company’s stock worth $730,472,000 after purchasing an additional 27,695 shares during the period. Paradigm Capital Management Inc. NY raised its stake in shares of Onto Innovation by 0.4% during the 3rd quarter. Paradigm Capital Management Inc. NY now owns 1,182,689 shares of the semiconductor company’s stock worth $150,817,000 after acquiring an additional 4,400 shares in the last quarter. Invesco Ltd. raised its stake in shares of Onto Innovation by 113.7% during the 3rd quarter. Invesco Ltd. now owns 1,074,877 shares of the semiconductor company’s stock worth $137,068,000 after acquiring an additional 571,917 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Onto Innovation by 64.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 946,879 shares of the semiconductor company’s stock worth $144,779,000 after acquiring an additional 371,641 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Onto Innovation by 13.0% during the 4th quarter. Wellington Management Group LLP now owns 844,623 shares of the semiconductor company’s stock worth $129,143,000 after acquiring an additional 96,925 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

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.