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

Shares of Onto Innovation Inc. (NYSE:ONTO - Get Free Report) have been assigned an average recommendation of "Buy" from the eight ratings firms that are covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have covered the stock in the last year is $218.13.

Several equities research analysts have recently issued reports on the stock. Benchmark restated a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a research note on Friday, February 7th. StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a report on Thursday, February 27th. Cantor Fitzgerald restated an "overweight" rating and issued a $250.00 target price on shares of Onto Innovation in a research note on Friday, February 7th. Stifel Nicolaus dropped their price objective on shares of Onto Innovation from $200.00 to $180.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Needham & Company LLC reiterated a "buy" rating and set a $230.00 price target on shares of Onto Innovation in a research report on Friday, February 7th.

Insider Transactions at Onto Innovation

In other Onto Innovation news, CEO Michael P. Plisinski sold 35,000 shares of the firm's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total transaction of $7,671,650.00. Following the completion of the transaction, the chief executive officer now owns 150,492 shares of the company's stock, valued at approximately $32,986,341.48. This trade represents a 18.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Srinivas Vedula sold 827 shares of the company's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $205.00, for a total transaction of $169,535.00. Following the completion of the sale, the senior vice president now directly owns 15,223 shares in the company, valued at $3,120,715. This represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,827 shares of company stock worth $14,178,385. 0.72% of the stock is currently owned by insiders.

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Institutional Investors Weigh In On Onto Innovation

Several hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC grew its stake in shares of Onto Innovation by 72.0% in the 3rd quarter. HighTower Advisors LLC now owns 10,184 shares of the semiconductor company's stock worth $2,095,000 after buying an additional 4,263 shares during the last quarter. Quantinno Capital Management LP boosted its stake in Onto Innovation by 55.8% in the 3rd quarter. Quantinno Capital Management LP now owns 2,766 shares of the semiconductor company's stock worth $574,000 after purchasing an additional 991 shares in the last quarter. MML Investors Services LLC increased its stake in Onto Innovation by 6.6% during the 3rd quarter. MML Investors Services LLC now owns 3,718 shares of the semiconductor company's stock valued at $772,000 after purchasing an additional 230 shares in the last quarter. Barclays PLC raised its holdings in Onto Innovation by 1,296.7% in the third quarter. Barclays PLC now owns 217,190 shares of the semiconductor company's stock worth $45,079,000 after buying an additional 201,640 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Onto Innovation by 1.6% in the third quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company's stock worth $173,401,000 after buying an additional 13,405 shares in the last quarter. Institutional investors own 98.35% of the company's stock.

Onto Innovation Stock Performance

Shares of Onto Innovation stock traded down $0.45 during trading hours on Monday, reaching $120.32. The company's stock had a trading volume of 567,307 shares, compared to its average volume of 787,338. Onto Innovation has a one year low of $98.21 and a one year high of $238.93. The company has a market capitalization of $5.93 billion, a P/E ratio of 29.63, a P/E/G ratio of 0.89 and a beta of 1.46. The stock's fifty day simple moving average is $141.78 and its two-hundred day simple moving average is $171.33.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, topping 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, research analysts forecast that Onto Innovation will post 6.26 earnings per share 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.