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

Shares of Onto Innovation Inc. (NYSE:ONTO) have been assigned an average recommendation of “Buy” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $246.88.

ONTO has been the topic of several recent research reports. Stifel Nicolaus lowered their target price on shares of Onto Innovation from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 target price on shares of Onto Innovation in a report on Friday, February 7th. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. Oppenheimer lowered their price objective on Onto Innovation from $275.00 to $240.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, February 7th.

Insider Transactions at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 827 shares of the company’s 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 transaction, the senior vice president now directly owns 15,223 shares in the company, valued at $3,120,715. This represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael P. Plisinski sold 35,000 shares of Onto Innovation stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total value of $7,671,650.00. Following the completion of the sale, the chief executive officer now directly owns 150,492 shares of the company’s stock, valued at $32,986,341.48. The trade was a 18.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,827 shares of company stock worth $18,182,185. 0.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Onto Innovation

Hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new position in Onto Innovation in the 4th quarter valued at about $87,987,000. Artisan Partners Limited Partnership grew its holdings in shares of Onto Innovation by 41.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company’s stock valued at $252,530,000 after purchasing an additional 444,860 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Onto Innovation by 72.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 870,250 shares of the semiconductor company’s stock worth $145,045,000 after buying an additional 364,853 shares during the period. Invesco Ltd. increased its stake in Onto Innovation by 33.9% during the 4th quarter. Invesco Ltd. now owns 1,406,034 shares of the semiconductor company’s stock worth $234,344,000 after buying an additional 356,161 shares during the period. Finally, Citigroup Inc. lifted its holdings in Onto Innovation by 811.7% during the 3rd quarter. Citigroup Inc. now owns 319,116 shares of the semiconductor company’s stock worth $66,236,000 after buying an additional 284,115 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Onto Innovation Stock Performance

NYSE:ONTO opened at $133.13 on Thursday. The stock has a market capitalization of $6.56 billion, a PE ratio of 32.79, a P/E/G ratio of 0.89 and a beta of 1.29. Onto Innovation has a fifty-two week low of $121.47 and a fifty-two week high of $238.93. The company has a fifty day moving average of $168.16 and a two-hundred day moving average of $179.59.

Onto Innovation (NYSE:ONTO) last released its quarterly 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%. Research analysts forecast 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.