Brokerages Set Onto Innovation Inc. (NYSE:ONTO) Target Price at $254.29

Shares of Onto Innovation Inc. (NYSE:ONTO - Get Free Report) have earned a consensus rating of "Buy" from the seven research firms that are presently covering the stock, Marketbeat.com reports. Seven equities research 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 $254.29.

Several equities research analysts recently issued reports on the stock. Benchmark restated a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, November 1st. Oppenheimer increased their price target on shares of Onto Innovation from $260.00 to $275.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Needham & Company LLC reduced their price target on shares of Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. Finally, Jefferies Financial Group decreased their price objective on Onto Innovation from $265.00 to $245.00 and set a "buy" rating on the stock in a report on Friday, November 1st.

Onto Innovation Price Performance

ONTO traded down $5.74 on Tuesday, reaching $163.25. 628,523 shares of the company's stock were exchanged, compared to its average volume of 597,666. The stock has a market cap of $8.06 billion, a PE ratio of 44.27, a P/E/G ratio of 1.08 and a beta of 1.30. Onto Innovation has a twelve month low of $134.11 and a twelve month high of $238.93. The stock's fifty day moving average price is $186.36 and its 200-day moving average price is $200.23.

Onto Innovation (NYSE:ONTO - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $250.85 million. During the same quarter in the previous year, the company posted $0.96 earnings per share. The firm's revenue for the quarter was up 21.7% compared to the same quarter last year. As a group, research analysts predict that Onto Innovation will post 5.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Onto Innovation

Institutional investors have recently modified their holdings of the company. Quarry LP boosted its position in Onto Innovation by 232.4% in the 2nd quarter. Quarry LP now owns 113 shares of the semiconductor company's stock valued at $25,000 after buying an additional 79 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Onto Innovation by 675.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 108 shares in the last quarter. LGT Financial Advisors LLC boosted its stake in shares of Onto Innovation by 58.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 245 shares of the semiconductor company's stock valued at $54,000 after buying an additional 90 shares during the period. Fifth Third Bancorp grew its position in shares of Onto Innovation by 40.2% during the second quarter. Fifth Third Bancorp now owns 293 shares of the semiconductor company's stock worth $64,000 after buying an additional 84 shares in the last quarter. Finally, Eastern Bank purchased a new stake in shares of Onto Innovation during the third quarter worth approximately $65,000. 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.