Onto Innovation Inc. (NYSE:ONTO) Receives $261.67 Consensus Target Price from Brokerages

Shares of Onto Innovation Inc. (NYSE:ONTO) have been given an average rating of “Buy” by the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have covered the stock in the last year is $261.67.

Several brokerages recently issued reports on ONTO. Oppenheimer upped their target price on Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Stifel Nicolaus increased their price objective on shares of Onto Innovation from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Needham & Company LLC raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a research report on Monday, August 19th. Finally, Benchmark reaffirmed a “buy” rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday, August 9th.

Onto Innovation Stock Performance

ONTO stock opened at $204.39 on Monday. Onto Innovation has a one year low of $108.98 and a one year high of $238.93. The firm has a market cap of $10.07 billion, a price-to-earnings ratio of 72.74, a PEG ratio of 1.32 and a beta of 1.36. The firm has a 50-day simple moving average of $203.78 and a two-hundred day simple moving average of $206.23.

Onto Innovation (NYSE:ONTO) last posted its earnings results on Thursday, August 8th. The semiconductor company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.12. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The company had revenue of $242.33 million during the quarter, compared to analysts’ expectations of $235.43 million. During the same quarter in the prior year, the company posted $0.79 earnings per share. Onto Innovation’s revenue for the quarter was up 27.1% compared to the same quarter last year. As a group, equities analysts predict that Onto Innovation will post 5.18 earnings per share for the current fiscal year.

Insider Transactions at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total value of $264,231.00. Following the sale, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Onto Innovation

Several hedge funds have recently bought and sold shares of the stock. Quarry LP grew its position in shares of Onto Innovation by 232.4% during the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake 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 acquiring an additional 108 shares during the period. Fidelis Capital Partners LLC purchased a new stake in Onto Innovation in the 1st quarter worth $28,000. GAMMA Investing LLC raised its position in Onto Innovation by 41.1% during the first quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 85 shares during the period. Finally, LGT Financial Advisors LLC lifted its holdings in Onto Innovation by 58.1% during the second quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company’s stock valued at $54,000 after purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 98.35% of the company’s stock.

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.