Onto Innovation (NYSE:ONTO) Earns Buy Rating from Needham & Company LLC

Onto Innovation (NYSE:ONTO - Get Free Report)'s stock had its "buy" rating restated by research analysts at Needham & Company LLC in a research note issued to investors on Friday,Benzinga reports. They currently have a $230.00 price target on the semiconductor company's stock. Needham & Company LLC's target price points to a potential upside of 29.43% from the stock's current price.

A number of other research analysts also recently commented on ONTO. Benchmark reaffirmed a "buy" rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, November 1st. Oppenheimer reaffirmed an "outperform" rating and issued a $275.00 price target on shares of Onto Innovation in a research note on Tuesday, December 17th. Jefferies Financial Group lowered their target price on Onto Innovation from $265.00 to $245.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Finally, Cantor Fitzgerald assumed coverage on Onto Innovation in a research note on Monday, January 13th. They set an "overweight" rating and a $250.00 price target for the company. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Onto Innovation currently has an average rating of "Moderate Buy" and a consensus price target of $251.25.

Onto Innovation Stock Down 3.0 %

Shares of Onto Innovation stock traded down $5.58 during trading on Friday, hitting $177.70. The stock had a trading volume of 437,733 shares, compared to its average volume of 942,453. Onto Innovation has a 1 year low of $145.15 and a 1 year high of $238.93. The stock has a 50 day simple moving average of $186.26 and a 200 day simple moving average of $189.99. The company has a market capitalization of $8.78 billion, a PE ratio of 43.78, a P/E/G ratio of 1.09 and a beta of 1.31.

Onto Innovation (NYSE:ONTO - Get Free Report) last announced its earnings results on Thursday, February 6th. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. Onto Innovation had a net margin of 20.43% and a return on equity of 14.41%. As a group, equities analysts expect that Onto Innovation will post 6.46 earnings per share for the current fiscal year.

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 that occurred on Tuesday, January 21st. The stock was sold at an average price of $219.19, for a total value of $7,671,650.00. Following the completion of the sale, the chief executive officer now owns 150,492 shares in the company, 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 can be accessed through the SEC website. 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 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 disclosure for this sale can be found here. Over the last three months, insiders sold 85,827 shares of company stock worth $18,182,185. 0.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Onto Innovation

Several institutional investors and hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. increased its position in shares of Onto Innovation by 675.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 124 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 108 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Onto Innovation during the fourth quarter worth approximately $26,000. Mather Group LLC. raised its stake in shares of Onto Innovation by 209.4% in the fourth quarter. Mather Group LLC. now owns 164 shares of the semiconductor company's stock valued at $27,000 after acquiring an additional 111 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Onto Innovation by 532.4% in the 4th quarter. Versant Capital Management Inc now owns 234 shares of the semiconductor company's stock worth $39,000 after acquiring an additional 197 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Onto Innovation during the 4th quarter valued at $43,000. Institutional investors own 98.35% of the company's stock.

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.