Onto Innovation Inc. (NYSE:ONTO) Given Consensus Rating of “Moderate Buy” by Analysts

Onto Innovation Inc. (NYSE:ONTO) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $242.00.

ONTO has been the subject of a number of recent analyst reports. Jefferies Financial Group assumed coverage on shares of Onto Innovation in a report on Monday, May 13th. They set a “buy” rating and a $265.00 price target for the company. Stifel Nicolaus raised their target price on Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a report on Monday, March 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Onto Innovation in a research report on Friday, May 10th. B. Riley increased their price objective on Onto Innovation from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Finally, Benchmark boosted their target price on shares of Onto Innovation from $180.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, May 10th.

Insider Buying and Selling at Onto Innovation

In other news, CEO Michael P. Plisinski sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total value of $7,019,200.00. Following the sale, the chief executive officer now directly owns 235,492 shares in the company, valued at approximately $41,324,136.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Onto Innovation news, VP Yoon Ah Oh sold 2,685 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $173.96, for a total value of $467,082.60. Following the transaction, the vice president now directly owns 16,598 shares in the company, valued at $2,887,388.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael P. Plisinski sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the sale, the chief executive officer now directly owns 235,492 shares of the company’s stock, valued at approximately $41,324,136.16. The disclosure for this sale can be found here. Insiders have sold 44,370 shares of company stock valued at $7,789,583 in the last 90 days. 0.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Onto Innovation

A number of large investors have recently bought and sold shares of the business. International Assets Investment Management LLC boosted its stake in Onto Innovation by 14,819.4% in the fourth quarter. International Assets Investment Management LLC now owns 615,575 shares of the semiconductor company’s stock worth $94,121,000 after purchasing an additional 611,449 shares in the last quarter. Norges Bank bought a new stake in Onto Innovation during the 4th quarter worth about $89,785,000. Invesco Ltd. increased its position in Onto Innovation by 113.7% in the 3rd quarter. Invesco Ltd. now owns 1,074,877 shares of the semiconductor company’s stock valued at $137,068,000 after acquiring an additional 571,917 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Onto Innovation by 64.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 946,879 shares of the semiconductor company’s stock valued at $144,779,000 after acquiring an additional 371,641 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Onto Innovation in the third quarter worth about $34,678,000. 98.35% of the stock is currently owned by institutional investors.

Onto Innovation Price Performance

Shares of NYSE:ONTO opened at $222.65 on Friday. The stock has a market capitalization of $10.97 billion, a P/E ratio of 79.24 and a beta of 1.40. The business has a 50-day moving average of $199.36 and a two-hundred day moving average of $172.72. Onto Innovation has a fifty-two week low of $103.00 and a fifty-two week high of $238.13.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.08. Onto Innovation had a return on equity of 11.48% and a net margin of 16.43%. The firm had revenue of $228.80 million during the quarter, compared to analysts’ expectations of $222.60 million. During the same quarter in the prior year, the business earned $0.92 earnings per share. The company’s revenue was up 14.9% on a year-over-year basis. As a group, research analysts expect that Onto Innovation will post 5.01 EPS for the current fiscal 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.