Onto Innovation Inc. (NYSE:ONTO) Receives $254.29 Consensus Price Target from Brokerages

Onto Innovation Inc. (NYSE:ONTO) has been given an average rating of “Buy” by the seven ratings firms that are covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have covered the stock in the last year is $254.29.

Several analysts recently commented on ONTO shares. Jefferies Financial Group dropped their price target on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Benchmark reaffirmed a “buy” rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, November 1st. Oppenheimer upped their target price on shares of Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC dropped their price objective on Onto Innovation from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 1st.

Onto Innovation Stock Down 3.8 %

ONTO opened at $158.54 on Friday. The firm’s fifty day simple moving average is $196.76 and its two-hundred day simple moving average is $206.08. Onto Innovation has a 52-week low of $131.78 and a 52-week high of $238.93. The company has a market cap of $7.83 billion, a price-to-earnings ratio of 42.96, a PEG ratio of 1.02 and a beta of 1.37.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.03. Onto Innovation had a return on equity of 13.38% and a net margin of 19.44%. The company had revenue of $252.20 million for the quarter, compared to analysts’ expectations of $250.85 million. During the same period in the previous year, the firm posted $0.96 EPS. Onto Innovation’s revenue was up 21.7% compared to the same quarter last year. On average, research analysts forecast that Onto Innovation will post 5.19 EPS for the current year.

Insider Buying and Selling at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total transaction of $264,231.00. Following the transaction, the senior vice president now owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. This trade represents a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its stake in Onto Innovation by 386.3% in the first quarter. SG Americas Securities LLC now owns 7,406 shares of the semiconductor company’s stock valued at $1,341,000 after purchasing an additional 5,883 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in Onto Innovation in the 1st quarter valued at approximately $204,000. Headlands Technologies LLC purchased a new stake in shares of Onto Innovation in the first quarter valued at approximately $90,000. ProShare Advisors LLC grew its stake in shares of Onto Innovation by 7.2% during the 1st quarter. ProShare Advisors LLC now owns 12,478 shares of the semiconductor company’s stock worth $2,260,000 after purchasing an additional 833 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of Onto Innovation by 27.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,789 shares of the semiconductor company’s stock worth $3,221,000 after buying an additional 3,800 shares during the last quarter. Hedge funds and other 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.