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

Shares of Onto Innovation Inc. (NYSE:ONTO) have earned a consensus recommendation of “Buy” from the eight brokerages that are currently covering the company, Marketbeat reports. Eight analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $246.88.

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

Onto Innovation Trading Up 3.9 %

Shares of ONTO opened at $140.87 on Thursday. The stock has a 50 day moving average of $170.88 and a 200 day moving average of $180.19. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of 34.70, a PEG ratio of 0.89 and a beta of 1.29. Onto Innovation has a 12 month low of $121.47 and a 12 month high of $238.93.

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

Insider Buying and Selling

In other Onto Innovation news, CEO Michael P. Plisinski sold 30,000 shares of Onto Innovation stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $211.24, for a total transaction of $6,337,200.00. Following the completion of the sale, the chief executive officer now directly owns 185,492 shares in the company, valued at $39,183,330.08. The trade was a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total transaction of $169,535.00. Following the completion of the transaction, the senior vice president now directly owns 15,223 shares in the company, valued at $3,120,715. The trade was a 5.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,827 shares of company stock worth $18,182,185. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of Onto Innovation

A number of hedge funds have recently made changes to their positions in ONTO. Kestra Investment Management LLC bought a new stake in Onto Innovation in the 4th quarter worth approximately $26,000. Mather Group LLC. raised its stake in shares of Onto Innovation by 209.4% during the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 111 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Onto Innovation in the 4th quarter worth approximately $38,000. Versant Capital Management Inc boosted its stake in shares of Onto Innovation by 532.4% in the 4th 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 in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of Onto Innovation during the 4th quarter valued at $43,000. 98.35% of the stock is owned by institutional investors.

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.