Analysts Set Onto Innovation Inc. (NYSE:ONTO) PT at $242.00

Onto Innovation Inc. (NYSE:ONTO) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $248.00.

Several equities analysts recently issued reports on ONTO shares. Benchmark upped their price objective on shares of Onto Innovation from $180.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, May 10th. B. Riley increased their price target on shares of Onto Innovation from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Stifel Nicolaus increased their price target on shares of Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Evercore ISI increased their price target on shares of Onto Innovation from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Onto Innovation in a research note on Friday, May 10th.

Onto Innovation Stock Performance

Shares of ONTO opened at $213.47 on Tuesday. The company has a market capitalization of $10.52 billion, a price-to-earnings ratio of 75.97 and a beta of 1.43. The company’s 50 day simple moving average is $211.15 and its 200 day simple moving average is $183.03. Onto Innovation has a 1 year low of $103.93 and a 1 year high of $238.13.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.08. The business had revenue of $228.80 million for the quarter, compared to the consensus estimate of $222.60 million. Onto Innovation had a net margin of 16.43% and a return on equity of 11.48%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Equities analysts expect that Onto Innovation will post 5.05 EPS for the current fiscal year.

Insider Activity

In other news, SVP Srinivas Vedula sold 1,486 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $213.40, for a total value of $317,112.40. Following the transaction, the senior vice president now owns 17,433 shares of the company’s stock, valued at approximately $3,720,202.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Srinivas Vedula sold 1,486 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $213.40, for a total transaction of $317,112.40. Following the completion of the sale, the senior vice president now directly owns 17,433 shares of the company’s stock, valued at approximately $3,720,202.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark Slicer sold 519 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $221.21, for a total transaction of $114,807.99. Following the sale, the chief financial officer now directly owns 12,552 shares of the company’s stock, valued at $2,776,627.92. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Onto Innovation

Large investors have recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC acquired a new stake in Onto Innovation during the 1st quarter valued at $28,000. Fifth Third Bancorp grew its holdings in Onto Innovation by 198.3% during the 4th quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 115 shares in the last quarter. Contravisory Investment Management Inc. acquired a new position in Onto Innovation during the 4th quarter worth $28,000. GAMMA Investing LLC acquired a new position in Onto Innovation during the 4th quarter worth $33,000. Finally, Rise Advisors LLC acquired a new position in Onto Innovation during the 1st quarter worth $38,000. 98.35% of the stock is owned by institutional investors and hedge funds.

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.