Onto Innovation Inc. (NYSE:ONTO) Receives Average Recommendation of "Buy" from Analysts

Onto Innovation Inc. (NYSE:ONTO - Get Free Report) has earned an average rating of "Buy" from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $246.88.

A number of equities research analysts have commented on ONTO shares. Cantor Fitzgerald reissued an "overweight" rating and set a $250.00 price target on shares of Onto Innovation in a report on Friday, February 7th. Stifel Nicolaus decreased their target price on Onto Innovation from $270.00 to $250.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Oppenheimer dropped their price target on Onto Innovation from $275.00 to $240.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Needham & Company LLC reaffirmed a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a report on Friday, February 7th. Finally, StockNews.com raised shares of Onto Innovation from a "sell" rating to a "hold" rating in a report on Thursday, February 27th.

Insider Activity

In related news, 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Srinivas Vedula sold 827 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the transaction, the senior vice president now directly owns 15,223 shares in the company, valued at approximately $3,120,715. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,827 shares of company stock worth $18,182,185. 0.72% of the stock is currently owned by insiders.

Remove Ads

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Onto Innovation by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company's stock worth $861,040,000 after buying an additional 76,233 shares during the period. JPMorgan Chase & Co. grew its stake in Onto Innovation by 9.2% in the 4th quarter. JPMorgan Chase & Co. now owns 2,192,238 shares of the semiconductor company's stock worth $365,380,000 after acquiring an additional 183,839 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Onto Innovation by 21.2% during the fourth quarter. Franklin Resources Inc. now owns 1,553,271 shares of the semiconductor company's stock worth $258,883,000 after acquiring an additional 271,470 shares during the period. Artisan Partners Limited Partnership raised its stake in shares of Onto Innovation by 41.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,515,152 shares of the semiconductor company's stock valued at $252,530,000 after acquiring an additional 444,860 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Onto Innovation by 2.8% in the third quarter. State Street Corp now owns 1,469,969 shares of the semiconductor company's stock valued at $305,107,000 after purchasing an additional 39,367 shares during the period. Institutional investors own 98.35% of the company's stock.

Onto Innovation Trading Down 1.4 %

Onto Innovation stock traded down $1.92 during midday trading on Thursday, hitting $135.73. The stock had a trading volume of 1,002,435 shares, compared to its average volume of 696,170. Onto Innovation has a 52-week low of $121.47 and a 52-week high of $238.93. The company has a market capitalization of $6.69 billion, a PE ratio of 33.43, a P/E/G ratio of 0.89 and a beta of 1.29. The firm's fifty day moving average is $171.89 and its two-hundred day moving average is $180.58.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced 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, equities research analysts predict that Onto Innovation will post 6.26 earnings per share for the current fiscal 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.