Onto Innovation Inc. (NYSE:ONTO) Receives Average Recommendation of “Buy” from Analysts

Shares of Onto Innovation Inc. (NYSE:ONTO) have been assigned an average rating of “Buy” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $246.88.

A number of research firms have weighed in on ONTO. Needham & Company LLC reissued a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Benchmark restated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Oppenheimer cut their target price on shares of Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 target price on shares of Onto Innovation in a research note on Friday, February 7th.

Insider Buying and Selling

In related news, CEO Michael P. Plisinski sold 35,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the sale, the chief executive officer now owns 150,492 shares in the company, valued at $32,986,341.48. This represents a 18.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the stock in a transaction dated 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 approximately $3,120,715. This trade represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,827 shares of company stock worth $18,182,185 over the last quarter. 0.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Onto Innovation

Institutional investors and hedge funds have recently bought and sold shares of the business. Kestra Investment Management LLC acquired a new stake in shares of Onto Innovation in the fourth quarter valued at approximately $26,000. Mather Group LLC. increased its stake in shares of Onto Innovation by 209.4% in 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. Johnson Financial Group Inc. acquired a new stake in shares of Onto Innovation in the fourth quarter valued at approximately $38,000. Versant Capital Management Inc increased its stake 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 valued at $39,000 after purchasing an additional 197 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Onto Innovation in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Price Performance

NYSE:ONTO opened at $137.45 on Thursday. The firm has a 50-day moving average of $174.05 and a two-hundred day moving average of $181.46. The stock has a market cap of $6.77 billion, a P/E ratio of 33.85, a PEG ratio of 0.89 and a beta of 1.29. Onto Innovation has a 1-year low of $121.47 and a 1-year high of $238.93.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. As a group, equities analysts expect that Onto Innovation will post 6.26 earnings per share for the current year.

About Onto Innovation

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.