Onto Innovation Inc. (NYSE:ONTO) Receives $259.17 Average Target Price from Analysts

Onto Innovation Inc. (NYSE:ONTO) has received a consensus rating of “Buy” from the seven research firms that are covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $261.67.

Several equities research analysts have issued reports on ONTO shares. Benchmark reaffirmed a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, August 9th. Needham & Company LLC upgraded shares of Onto Innovation from a “hold” rating to a “buy” rating in a research report on Monday, August 19th. B. Riley increased their price objective on shares of Onto Innovation from $250.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Oppenheimer boosted their target price on Onto Innovation from $260.00 to $275.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Stifel Nicolaus increased their price target on Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 15th.

Insider Activity

In other news, SVP Srinivas Vedula sold 1,275 shares of Onto Innovation 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 sale, the senior vice president now owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of Onto Innovation

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Onto Innovation by 1.3% during the first quarter. Vanguard Group Inc. now owns 5,254,287 shares of the semiconductor company’s stock worth $951,446,000 after buying an additional 65,472 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Onto Innovation by 64.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 946,879 shares of the semiconductor company’s stock worth $144,779,000 after purchasing an additional 371,641 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Onto Innovation by 28.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 856,780 shares of the semiconductor company’s stock valued at $188,115,000 after purchasing an additional 189,769 shares during the last quarter. Wellington Management Group LLP raised its position in Onto Innovation by 13.0% in the fourth quarter. Wellington Management Group LLP now owns 844,623 shares of the semiconductor company’s stock valued at $129,143,000 after purchasing an additional 96,925 shares during the period. Finally, Hood River Capital Management LLC lifted its stake in Onto Innovation by 6.9% during the first quarter. Hood River Capital Management LLC now owns 672,230 shares of the semiconductor company’s stock worth $121,727,000 after purchasing an additional 43,132 shares in the last quarter. 98.35% of the stock is owned by institutional investors and hedge funds.

Onto Innovation Trading Up 4.5 %

Shares of Onto Innovation stock opened at $209.59 on Thursday. Onto Innovation has a twelve month low of $108.98 and a twelve month high of $238.93. The firm’s 50-day moving average price is $195.83 and its 200 day moving average price is $203.21. The firm has a market capitalization of $10.33 billion, a PE ratio of 74.59 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.12. Onto Innovation had a return on equity of 12.71% and a net margin of 18.50%. The business had revenue of $242.33 million for the quarter, compared to the consensus estimate of $235.43 million. During the same quarter last year, the business posted $0.79 earnings per share. The business’s quarterly revenue was up 27.1% compared to the same quarter last year. On average, sell-side analysts predict that Onto Innovation will post 5.18 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.