Onto Innovation Inc. (NYSE:ONTO) Receives $253.75 Average Price Target from Analysts

Onto Innovation Inc. (NYSE:ONTO - Get Free Report) has been given a consensus rating of "Buy" by the eight ratings firms that are covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $253.75.

ONTO has been the subject of a number of research analyst reports. Cantor Fitzgerald started coverage on shares of Onto Innovation in a research note on Monday, January 13th. They issued an "overweight" rating and a $250.00 target price for the company. Needham & Company LLC reduced their price objective on Onto Innovation from $245.00 to $230.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Benchmark restated a "buy" rating and issued a $230.00 target price on shares of Onto Innovation in a research note on Friday, November 1st. Oppenheimer reiterated an "outperform" rating and set a $275.00 price target on shares of Onto Innovation in a research report on Tuesday, December 17th. Finally, Jefferies Financial Group decreased their price objective on shares of Onto Innovation from $265.00 to $245.00 and set a "buy" rating on the stock in a report on Friday, November 1st.

Insider Buying and Selling at Onto Innovation

In related news, 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 value of $169,535.00. Following the completion of the sale, the senior vice president now owns 15,223 shares in the company, valued at approximately $3,120,715. This represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael P. Plisinski sold 35,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $219.19, for a total value of $7,671,650.00. Following the completion of the transaction, the chief executive officer now directly owns 150,492 shares in the company, valued at $32,986,341.48. The trade was a 18.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,827 shares of company stock worth $18,182,185. Company insiders own 0.72% of the company's stock.

Institutional Trading of Onto Innovation

A number of institutional investors and hedge funds have recently modified their holdings of ONTO. Bank of Montreal Can increased its stake in Onto Innovation by 10.4% in the second quarter. Bank of Montreal Can now owns 6,823 shares of the semiconductor company's stock valued at $1,507,000 after purchasing an additional 640 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Onto Innovation by 47.9% in the 2nd quarter. AQR Capital Management LLC now owns 15,285 shares of the semiconductor company's stock valued at $3,356,000 after buying an additional 4,947 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Onto Innovation by 21.4% in the 2nd quarter. Mackenzie Financial Corp now owns 3,092 shares of the semiconductor company's stock valued at $679,000 after buying an additional 544 shares in the last quarter. Scientech Research LLC acquired a new stake in Onto Innovation during the 2nd quarter worth $239,000. Finally, Algert Global LLC lifted its holdings in Onto Innovation by 193.0% during the second quarter. Algert Global LLC now owns 5,978 shares of the semiconductor company's stock worth $1,313,000 after acquiring an additional 3,938 shares in the last quarter. 98.35% of the stock is owned by institutional investors.

Onto Innovation Stock Performance

Shares of NYSE ONTO traded down $0.11 during midday trading on Wednesday, reaching $205.07. 842,732 shares of the company traded hands, compared to its average volume of 798,853. The stock's 50-day simple moving average is $182.12 and its 200-day simple moving average is $190.55. Onto Innovation has a 12 month low of $145.15 and a 12 month high of $238.93. The firm has a market cap of $10.13 billion, a PE ratio of 55.57, a PEG ratio of 0.99 and a beta of 1.29.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.03. The firm had revenue of $252.20 million during the quarter, compared to the consensus estimate of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The firm's quarterly revenue was up 21.7% on a year-over-year basis. During the same period last year, the firm posted $0.96 EPS. On average, equities research analysts expect that Onto Innovation will post 5.22 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.