Benchmark Reaffirms "Buy" Rating for Onto Innovation (NYSE:ONTO)

Benchmark reiterated their buy rating on shares of Onto Innovation (NYSE:ONTO - Free Report) in a research report report published on Friday morning,Benzinga reports. The firm currently has a $230.00 price objective on the semiconductor company's stock.

Several other analysts have also recently issued reports on the stock. Stifel Nicolaus cut their price target on shares of Onto Innovation from $270.00 to $250.00 and set a "buy" rating on the stock in a report on Friday. Needham & Company LLC reaffirmed a "buy" rating and issued a $230.00 price target on shares of Onto Innovation in a report on Friday. Oppenheimer reaffirmed an "outperform" rating and issued a $275.00 price target on shares of Onto Innovation in a report on Tuesday, December 17th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $250.00 price target on shares of Onto Innovation in a report on Friday. Finally, Jefferies Financial Group cut their price target 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. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $251.25.

Onto Innovation Stock Performance

Shares of ONTO stock traded down $7.13 on Friday, hitting $176.15. The stock had a trading volume of 938,713 shares, compared to its average volume of 961,974. The firm has a market capitalization of $8.70 billion, a price-to-earnings ratio of 43.39, a P/E/G ratio of 1.09 and a beta of 1.31. The stock's 50 day moving average is $186.26 and its 200-day moving average is $189.99. Onto Innovation has a 52-week low of $145.15 and a 52-week high of $238.93.

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 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%. Equities analysts expect that Onto Innovation will post 6.46 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Srinivas Vedula sold 827 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $205.00, for a total value of $169,535.00. Following the completion of the transaction, the senior vice president now owns 15,223 shares in the company, valued at $3,120,715. This represents a 5.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 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 $32,986,341.48. This represents a 18.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,827 shares of company stock valued at $18,182,185 in the last quarter. Company insiders own 0.72% of the company's stock.

Hedge Funds Weigh In On Onto Innovation

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Onto Innovation by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 5,166,137 shares of the semiconductor company's stock valued at $861,040,000 after purchasing an additional 76,233 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Onto Innovation by 12.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company's stock valued at $416,863,000 after purchasing an additional 228,800 shares in the last quarter. State Street Corp boosted its position in shares of Onto Innovation by 2.8% during the 3rd 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 in the last quarter. Franklin Resources Inc. boosted its position in shares of Onto Innovation by 4.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,281,801 shares of the semiconductor company's stock valued at $288,320,000 after purchasing an additional 54,868 shares in the last quarter. Finally, Congress Asset Management Co. boosted its position in shares of Onto Innovation by 38.1% during the 3rd quarter. Congress Asset Management Co. now owns 1,072,796 shares of the semiconductor company's stock valued at $222,670,000 after purchasing an additional 295,869 shares in the last quarter. Institutional investors own 98.35% of the company's stock.

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.