Onto Innovation (NYSE:ONTO) Coverage Initiated by Analysts at Evercore ISI

Stock analysts at Evercore ISI began coverage on shares of Onto Innovation (NYSE:ONTO) in a note issued to investors on Tuesday, Marketbeat.com reports. The firm set an “outperform” rating and a $235.00 price target on the semiconductor company’s stock. Evercore ISI’s price target points to a potential upside of 29.08% from the company’s previous close.

A number of other research analysts have also weighed in on ONTO. Stifel Nicolaus raised their price objective on shares of Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, March 25th. B. Riley raised their price objective on shares of Onto Innovation from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Benchmark raised their price objective on shares of Onto Innovation from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.60.

Onto Innovation Stock Down 4.0 %

Shares of NYSE ONTO opened at $182.06 on Tuesday. The firm has a market cap of $8.94 billion, a PE ratio of 74.01 and a beta of 1.40. Onto Innovation has a 12-month low of $76.40 and a 12-month high of $199.72. The company’s fifty day simple moving average is $181.76 and its 200 day simple moving average is $154.93.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.07. The business had revenue of $219.00 million for the quarter, compared to analyst estimates of $209.06 million. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. Onto Innovation’s revenue was down 13.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.57 earnings per share. On average, equities analysts predict that Onto Innovation will post 4.7 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Michael P. Plisinski sold 40,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the transaction, the chief executive officer now directly owns 235,492 shares in the company, valued at $41,324,136.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Onto Innovation news, CEO Michael P. Plisinski sold 40,000 shares of Onto Innovation stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total value of $7,019,200.00. Following the sale, the chief executive officer now owns 235,492 shares of the company’s stock, valued at $41,324,136.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David Brian Miller sold 2,800 shares of Onto Innovation stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total transaction of $477,372.00. Following the completion of the sale, the director now directly owns 9,008 shares in the company, valued at approximately $1,535,773.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,170 shares of company stock worth $8,266,955. 0.72% of the stock is owned by insiders.

Institutional Trading of Onto Innovation

Several hedge funds have recently added to or reduced their stakes in the stock. Rise Advisors LLC bought a new stake in Onto Innovation in the first quarter worth about $38,000. GAMMA Investing LLC raised its position in Onto Innovation by 41.1% in 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. Kapitalo Investimentos Ltda bought a new stake in Onto Innovation in the fourth quarter worth about $145,000. Wellington Management Group LLP raised its position in Onto Innovation by 13.0% in the fourth quarter. Wellington Management Group LLP now owns 844,623 shares of the semiconductor company’s stock worth $129,143,000 after acquiring an additional 96,925 shares during the period. Finally, TT International Asset Management LTD raised its position in Onto Innovation by 68.1% in the fourth quarter. TT International Asset Management LTD now owns 195,561 shares of the semiconductor company’s stock worth $29,901,000 after acquiring an additional 79,245 shares during the period. Institutional investors own 98.35% of the company’s stock.

About Onto Innovation

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.