Analysts Anticipate Onto Innovation (NASDAQ:ONTO) to Announce $0.33 EPS

Shares of Onto Innovation (NASDAQ:ONTO) have received a consensus broker rating score of 1.50 (Buy) from the six brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation, one has given a buy recommendation and four have given a strong buy recommendation to the company. Onto Innovation’s rating score has improved by 6.3% in the last 90 days as a result of a number of analysts’ ratings changes.

Brokers have set a 12 month consensus price target of $49.20 for the company and are anticipating that the company will post $0.33 EPS for the current quarter, according to Zacks. Zacks has also assigned Onto Innovation an industry rank of 16 out of 255 based on the ratings given to related companies.

ONTO has been the topic of several analyst reports. Zacks Investment Research upgraded Onto Innovation from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $44.00 target price on shares of Onto Innovation in a report on Tuesday, January 21st. Benchmark upped their target price on Onto Innovation from $40.00 to $50.00 and gave the company a “buy” rating in a report on Friday, February 7th. B. Riley upped their target price on Onto Innovation from $47.00 to $53.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, TheStreet upgraded Onto Innovation from a “c+” rating to a “b-” rating in a report on Monday, October 28th.

In other Onto Innovation news, Director Bruce C. Rhine sold 80,000 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $40.01, for a total value of $3,200,800.00. Following the transaction, the director now directly owns 628,387 shares of the company’s stock, valued at $25,141,763.87. The sale was disclosed in a legal filing with the SEC, which is available through this link.

ONTO stock traded up $0.36 during trading on Friday, hitting $39.63. The company had a trading volume of 236,488 shares, compared to its average volume of 298,329. The stock has a 50-day moving average price of $38.00. Onto Innovation has a one year low of $26.51 and a one year high of $42.50.

Onto Innovation (NASDAQ:ONTO) last announced its earnings results on Thursday, February 6th. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.02. The company had revenue of $120.56 million during the quarter, compared to the consensus estimate of $117.52 million. During the same quarter in the previous year, the company earned $0.33 earnings per share. The business’s revenue was up 92.0% on a year-over-year basis.

About Onto Innovation

Onto Innovation Inc designs, develops, manufactures, and supports process control defect inspection and metrology, advanced packaging lithography, and process control software systems used by microelectronic device manufacturers. It offers process and yield management solutions used in bare silicon wafer production and processing facilities, and device packaging and test facilities through standalone systems for macro-defect inspection, packaging lithography, probe card test and analysis, and transparent and opaque thin film measurements.

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