Onto Innovation Inc. (NYSE:ONTO) Given Consensus Recommendation of “Buy” by Brokerages

Onto Innovation Inc. (NYSE:ONTO) has earned a consensus rating of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have covered the stock in the last year is $246.88.

Several equities research analysts recently commented on ONTO shares. Oppenheimer decreased their price objective on shares of 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 research report on Thursday. Needham & Company LLC reissued a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th. Benchmark restated a “buy” rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, February 7th. Finally, Stifel Nicolaus cut their target price 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.

Onto Innovation Price Performance

Shares of ONTO stock opened at $145.43 on Friday. The business’s fifty day moving average price is $185.47 and its 200 day moving average price is $188.76. The firm has a market capitalization of $7.18 billion, a PE ratio of 35.82, a P/E/G ratio of 0.89 and a beta of 1.31. Onto Innovation has a 1-year low of $145.15 and a 1-year high of $238.93.

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

Insider Buying and Selling at Onto Innovation

In other news, SVP Srinivas Vedula sold 827 shares of the firm’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 transaction, the senior vice president now owns 15,223 shares of the company’s stock, valued at approximately $3,120,715. This trade represents a 5.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael P. Plisinski sold 20,000 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $200.19, for a total value of $4,003,800.00. Following the completion of the sale, the chief executive officer now owns 215,492 shares of the company’s stock, valued at approximately $43,139,343.48. This represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,827 shares of company stock worth $18,182,185 in the last quarter. 0.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. UMB Bank n.a. raised its holdings in shares of Onto Innovation by 22.8% during the 4th quarter. UMB Bank n.a. now owns 398 shares of the semiconductor company’s stock valued at $66,000 after buying an additional 74 shares during the period. Northwest & Ethical Investments L.P. grew its holdings in Onto Innovation by 7.8% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 1,050 shares of the semiconductor company’s stock valued at $218,000 after purchasing an additional 76 shares in the last quarter. Bridge City Capital LLC increased its stake in Onto Innovation by 1.0% during the 4th quarter. Bridge City Capital LLC now owns 8,165 shares of the semiconductor company’s stock worth $1,361,000 after buying an additional 78 shares during the period. CIBC Asset Management Inc lifted its holdings in Onto Innovation by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 1,533 shares of the semiconductor company’s stock worth $256,000 after buying an additional 81 shares in the last quarter. Finally, Huntington National Bank boosted its position in Onto Innovation by 26.3% in the 3rd quarter. Huntington National Bank now owns 423 shares of the semiconductor company’s stock valued at $88,000 after buying an additional 88 shares during the last quarter. Institutional investors and hedge funds 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.