Onto Innovation (NYSE:ONTO) Receives “Buy” Rating from Benchmark

Onto Innovation (NYSE:ONTO)‘s stock had its “buy” rating reiterated by analysts at Benchmark in a note issued to investors on Friday, Benzinga reports. They currently have a $230.00 price objective on the semiconductor company’s stock. Benchmark’s price objective would suggest a potential upside of 27.96% from the company’s previous close.

ONTO has been the topic of a number of other reports. Stifel Nicolaus raised their price target on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Oppenheimer raised their target price on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Needham & Company LLC dropped their price target on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $257.14.

Onto Innovation Stock Performance

ONTO stock traded down $18.59 during mid-day trading on Friday, reaching $179.74. The company had a trading volume of 577,276 shares, compared to its average volume of 562,243. Onto Innovation has a fifty-two week low of $115.07 and a fifty-two week high of $238.93. The company has a market capitalization of $8.88 billion, a price-to-earnings ratio of 54.55, a price-to-earnings-growth ratio of 1.33 and a beta of 1.36. The firm has a fifty day simple moving average of $203.24 and a 200 day simple moving average of $206.62.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.03. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The firm had revenue of $252.20 million for the quarter, compared to analysts’ expectations of $250.85 million. During the same quarter last year, the company earned $0.96 earnings per share. The firm’s revenue was up 21.7% compared to the same quarter last year. As a group, analysts predict that Onto Innovation will post 5.18 earnings per share for the current year.

Insider Transactions at Onto Innovation

In other news, SVP Srinivas Vedula sold 1,275 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total transaction of $264,231.00. Following the completion of the sale, the senior vice president now owns 16,050 shares in the company, valued at approximately $3,326,202. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

Institutional Trading of Onto Innovation

Several institutional investors and hedge funds have recently bought and sold shares of ONTO. Quarry LP raised its position in Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 79 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position 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 last quarter. Fidelis Capital Partners LLC acquired a new position in Onto Innovation in the 1st quarter valued at $28,000. LGT Financial Advisors LLC increased its stake in Onto Innovation by 58.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 90 shares during the period. Finally, Fifth Third Bancorp increased its stake in Onto Innovation by 40.2% in the 2nd quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company’s stock valued at $64,000 after buying an additional 84 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.

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.