Onto Innovation Inc. (NYSE:ONTO) Receives $246.88 Consensus Target Price from Analysts

Shares of Onto Innovation Inc. (NYSE:ONTO - Get Free Report) have been assigned an average recommendation of "Buy" from the eight research firms that are currently covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $246.88.

A number of analysts have recently weighed in on ONTO shares. Needham & Company LLC restated a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. StockNews.com cut shares of Onto Innovation from a "hold" rating to a "sell" rating in a research note on Tuesday, February 11th. Benchmark restated a "buy" rating and issued a $230.00 price objective on shares of Onto Innovation in a research note on Friday, February 7th. Stifel Nicolaus reduced their price objective on shares of Onto Innovation from $270.00 to $250.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Finally, Jefferies Financial Group reduced their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating for the company in a research note on Friday, November 1st.

Insider Buying and Selling at Onto Innovation

In other news, SVP Srinivas Vedula sold 827 shares of the company's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the sale, the senior vice president now owns 15,223 shares of the company's stock, valued at approximately $3,120,715. This represents a 5.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael P. Plisinski sold 20,000 shares of the company's stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $200.19, for a total transaction of $4,003,800.00. Following the transaction, the chief executive officer now owns 215,492 shares in the company, valued at approximately $43,139,343.48. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,827 shares of company stock valued at $18,182,185 in the last 90 days. 0.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ONTO. Kestra Investment Management LLC acquired a new position in Onto Innovation during the 4th quarter worth about $26,000. Mather Group LLC. lifted its position in Onto Innovation by 209.4% during the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company's stock worth $27,000 after buying an additional 111 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in Onto Innovation during the 4th quarter valued at about $38,000. Versant Capital Management Inc lifted its position in Onto Innovation by 532.4% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company's stock valued at $39,000 after purchasing an additional 197 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in Onto Innovation during the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 98.35% of the company's stock.

Onto Innovation Stock Up 2.2 %

NYSE ONTO opened at $154.22 on Friday. The stock has a market capitalization of $7.62 billion, a PE ratio of 37.99, a price-to-earnings-growth ratio of 0.89 and a beta of 1.31. The company has a 50 day moving average price of $185.91 and a two-hundred day moving average price of $189.06. Onto Innovation has a 12-month low of $145.15 and a 12-month high of $238.93.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.24%. As a group, equities analysts anticipate that Onto Innovation will post 6.26 EPS for the current year.

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.