Onto Innovation Inc. (NYSE:ONTO) Receives $259.00 Consensus Price Target from Analysts

Onto Innovation Inc. (NYSE:ONTO) has been given an average rating of “Buy” by the six analysts that are currently covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $259.00.

Several brokerages recently commented on ONTO. Benchmark restated a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research note on Friday, August 9th. Stifel Nicolaus raised their price target on shares of Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, July 15th. B. Riley upped their price objective on Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Needham & Company LLC upgraded Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. Finally, Jefferies Financial Group started coverage on Onto Innovation in a research note on Monday, May 13th. They issued a “buy” rating and a $265.00 price target for the company.

Insider Activity

In other news, SVP Srinivas Vedula sold 1,486 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $213.40, for a total transaction of $317,112.40. Following the sale, the senior vice president now directly owns 17,433 shares in the company, valued at approximately $3,720,202.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Srinivas Vedula sold 1,486 shares of Onto Innovation stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $213.40, for a total transaction of $317,112.40. Following the sale, the senior vice president now owns 17,433 shares of the company’s stock, valued at approximately $3,720,202.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Slicer sold 519 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $221.21, for a total value of $114,807.99. Following the completion of the transaction, the chief financial officer now owns 12,552 shares of the company’s stock, valued at $2,776,627.92. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Onto Innovation

Several large investors have recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. increased its position in Onto Innovation by 24.6% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 202,425 shares of the semiconductor company’s stock worth $44,444,000 after purchasing an additional 39,955 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of Onto Innovation by 98.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,547 shares of the semiconductor company’s stock valued at $1,218,000 after buying an additional 2,753 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Onto Innovation by 17.8% during the 1st quarter. Nordea Investment Management AB now owns 102,103 shares of the semiconductor company’s stock valued at $18,586,000 after buying an additional 15,451 shares in the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of Onto Innovation by 36.8% in the 4th quarter. Eagle Asset Management Inc. now owns 295,824 shares of the semiconductor company’s stock valued at $45,231,000 after acquiring an additional 79,530 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in Onto Innovation by 106.5% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 7,263 shares of the semiconductor company’s stock worth $1,111,000 after acquiring an additional 3,746 shares in the last quarter. 98.35% of the stock is owned by institutional investors.

Onto Innovation Stock Performance

Shares of ONTO opened at $186.77 on Friday. Onto Innovation has a fifty-two week low of $108.98 and a fifty-two week high of $238.93. The firm’s 50-day simple moving average is $206.49 and its two-hundred day simple moving average is $201.13. The stock has a market cap of $9.20 billion, a PE ratio of 66.47 and a beta of 1.39.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.12. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The company had revenue of $242.33 million for the quarter, compared to the consensus estimate of $235.43 million. During the same quarter in the prior year, the business posted $0.79 EPS. The firm’s quarterly revenue was up 27.1% compared to the same quarter last year. Equities research analysts predict that Onto Innovation will post 5.11 EPS for the current year.

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.