Analysts Set Onto Innovation Inc. (NYSE:ONTO) Target Price at $261.67

Shares of Onto Innovation Inc. (NYSE:ONTO) have received a consensus rating of “Buy” from the seven analysts that are presently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have covered the stock in the last year is $261.67.

Several research firms have recently commented on ONTO. Oppenheimer lifted their price objective on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Needham & Company LLC upgraded Onto Innovation from a “hold” rating to a “buy” rating in a research note on Monday, August 19th. Benchmark reiterated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, August 9th. Finally, Stifel Nicolaus lifted their price objective on shares of Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 15th.

Onto Innovation Trading Down 2.2 %

Shares of ONTO opened at $201.28 on Monday. Onto Innovation has a 12 month low of $108.98 and a 12 month high of $238.93. The stock has a fifty day moving average price of $204.03 and a 200-day moving average price of $206.02. The firm has a market cap of $9.92 billion, a PE ratio of 71.63, a P/E/G ratio of 1.36 and a beta of 1.36.

Onto Innovation (NYSE:ONTO) last released its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.12. The company had revenue of $242.33 million during the quarter, compared to analysts’ expectations of $235.43 million. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The firm’s revenue was up 27.1% compared to the same quarter last year. During the same period last year, the business posted $0.79 earnings per share. As a group, research analysts forecast that Onto Innovation will post 5.18 EPS for the current year.

Insider Activity at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total value of $264,231.00. Following the sale, the senior vice president now owns 16,050 shares in the company, valued at approximately $3,326,202. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ONTO. Quarry LP increased its position in shares of Onto Innovation by 232.4% in the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Onto Innovation by 675.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 108 shares during the period. Fidelis Capital Partners LLC acquired a new position in Onto Innovation during the first quarter worth $28,000. LGT Financial Advisors LLC lifted its holdings in Onto Innovation by 58.1% during the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock valued at $54,000 after purchasing an additional 90 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Onto Innovation by 41.1% in the first quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 85 shares during the period. 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.