Brokerages Set Onto Innovation Inc. (NYSE:ONTO) Price Target at $246.88

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

ONTO has been the subject of a number of research reports. Stifel Nicolaus dropped their price objective on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating for the company in a report on Friday, February 7th. Needham & Company LLC restated a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. Oppenheimer cut their price objective on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. StockNews.com upgraded Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Benchmark restated a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a report on Friday, February 7th.

Insiders Place Their Bets

In related news, SVP Srinivas Vedula sold 827 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the sale, the senior vice president now directly owns 15,223 shares of the company’s stock, valued at $3,120,715. The trade was a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael P. Plisinski sold 20,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 215,492 shares in the company, valued at approximately $43,139,343.48. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,827 shares of company stock valued at $18,182,185 in the last ninety days. Insiders own 0.72% of the company’s stock.

Institutional Trading of Onto Innovation

Large investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Onto Innovation in the fourth quarter valued at approximately $87,987,000. Artisan Partners Limited Partnership increased its holdings in shares of Onto Innovation by 41.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company’s stock valued at $252,530,000 after acquiring an additional 444,860 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Onto Innovation by 72.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 870,250 shares of the semiconductor company’s stock valued at $145,045,000 after acquiring an additional 364,853 shares during the period. Invesco Ltd. raised its position in Onto Innovation by 33.9% in the 4th quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company’s stock valued at $234,344,000 after purchasing an additional 356,161 shares during the last quarter. Finally, Congress Asset Management Co. boosted its stake in Onto Innovation by 38.1% during the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company’s stock worth $222,670,000 after purchasing an additional 295,869 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Trading Up 0.0 %

Shares of NYSE ONTO opened at $145.60 on Friday. The stock has a market capitalization of $7.19 billion, a PE ratio of 35.86, a PEG ratio of 0.89 and a beta of 1.31. Onto Innovation has a twelve month low of $141.50 and a twelve month high of $238.93. The stock has a fifty day simple moving average of $185.04 and a 200-day simple moving average of $188.35.

Onto Innovation (NYSE:ONTO) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. On average, equities analysts predict that Onto Innovation will post 6.26 earnings per share 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.