Onto Innovation Inc. (NYSE:ONTO) Given Consensus Recommendation of "Buy" by Analysts

Onto Innovation Inc. (NYSE:ONTO - Get Free Report) has been assigned an average rating of "Buy" from the seven analysts that are presently covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $261.67.

A number of research firms recently issued reports on ONTO. Stifel Nicolaus increased their target price on shares of Onto Innovation from $240.00 to $270.00 and gave the stock a "buy" rating in a research report on Monday, July 15th. Benchmark reaffirmed a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a research report on Friday, August 9th. Oppenheimer boosted their target price on shares of Onto Innovation from $260.00 to $275.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 1st. Finally, Needham & Company LLC raised shares of Onto Innovation from a "hold" rating to a "buy" rating in a report on Monday, August 19th.

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 that occurred on Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total transaction of $264,231.00. Following the completion of the sale, the senior vice president now owns 16,050 shares in the company, valued at $3,326,202. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Onto Innovation

A number of hedge funds have recently bought and sold shares of ONTO. GAMMA Investing LLC grew its stake in Onto Innovation by 41.1% during the 1st quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company's stock valued at $53,000 after purchasing an additional 85 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Onto Innovation in the 1st quarter worth approximately $29,420,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Onto Innovation by 58.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 470,059 shares of the semiconductor company's stock worth $85,118,000 after purchasing an additional 174,010 shares during the last quarter. Deepwater Asset Management LLC bought a new stake in Onto Innovation during the 1st quarter valued at $1,597,000. Finally, State of Michigan Retirement System raised its stake in Onto Innovation by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 12,100 shares of the semiconductor company's stock valued at $2,191,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company's stock.

Onto Innovation Stock Performance

ONTO traded down $0.44 on Monday, reaching $209.15. 841,036 shares of the company's stock were exchanged, compared to its average volume of 560,455. The company's 50 day moving average is $203.53 and its 200-day moving average is $205.76. The company has a market cap of $10.31 billion, a price-to-earnings ratio of 74.43, a PEG ratio of 1.36 and a beta of 1.36. Onto Innovation has a twelve month low of $108.98 and a twelve month high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its earnings results on Thursday, August 8th. The semiconductor company reported $1.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.12. The firm had revenue of $242.33 million during the quarter, compared to the consensus estimate of $235.43 million. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. The company's revenue was up 27.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 EPS. Sell-side analysts forecast that Onto Innovation will post 5.18 EPS for the current year.

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.