Analysts Set Onto Innovation Inc. (NYSE:ONTO) PT at $253.75

Shares of Onto Innovation Inc. (NYSE:ONTO) have earned an average recommendation of “Buy” from the eight research firms that are presently covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $253.75.

Several brokerages recently commented on ONTO. Benchmark reiterated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, November 1st. Oppenheimer reissued an “outperform” rating and set a $275.00 target price on shares of Onto Innovation in a research note on Tuesday, December 17th. Jefferies Financial Group cut their price target on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Cantor Fitzgerald initiated coverage on Onto Innovation in a research report on Monday, January 13th. They issued an “overweight” rating and a $250.00 price objective for the company. Finally, Needham & Company LLC decreased their target price on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st.

Insider Buying and Selling

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total transaction of $169,535.00. Following the sale, the senior vice president now owns 15,223 shares in the company, valued at $3,120,715. This represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael P. Plisinski sold 20,000 shares of the firm’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total value of $4,003,800.00. Following the completion of the transaction, the chief executive officer now directly owns 215,492 shares of the company’s stock, valued at $43,139,343.48. The trade was a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 85,827 shares of company stock valued at $18,182,185. 0.72% of the stock is owned by insiders.

Institutional Trading of Onto Innovation

A number of institutional investors have recently added to or reduced their stakes in ONTO. Quarry LP lifted its holdings in shares of Onto Innovation by 232.4% in the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after buying an additional 79 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in Onto Innovation in the 4th quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 108 shares during the period. Mather Group LLC. grew its position in shares of Onto Innovation by 209.4% during the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 111 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Onto Innovation by 532.4% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 197 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Price Performance

Onto Innovation stock opened at $205.07 on Wednesday. The business has a 50 day moving average of $181.34 and a 200-day moving average of $190.72. The company has a market capitalization of $10.13 billion, a P/E ratio of 55.57, a P/E/G ratio of 0.99 and a beta of 1.29. Onto Innovation has a 1 year low of $145.15 and a 1 year high of $238.93.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.31 by $0.03. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The firm had revenue of $252.20 million for the quarter, compared to the consensus estimate of $250.85 million. During the same period in the previous year, the business earned $0.96 EPS. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. Equities analysts anticipate that Onto Innovation will post 5.22 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.