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

Shares of Onto Innovation Inc. (NYSE:ONTO) have earned an average rating of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $193.75.

A number of equities analysts have recently weighed in on the company. Evercore upped their target price on Onto Innovation from $115.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Weiss Ratings restated a “hold (c)” rating on shares of Onto Innovation in a research note on Thursday, January 22nd. Jefferies Financial Group upped their price objective on shares of Onto Innovation from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Oppenheimer lifted their price objective on shares of Onto Innovation from $130.00 to $180.00 and gave the company an “outperform” rating in a report on Tuesday, October 14th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 target price on shares of Onto Innovation in a research report on Tuesday, December 16th.

Onto Innovation Price Performance

Shares of Onto Innovation stock opened at $208.81 on Friday. Onto Innovation has a one year low of $85.88 and a one year high of $227.07. The firm has a market capitalization of $10.23 billion, a price-to-earnings ratio of 58.99, a PEG ratio of 1.15 and a beta of 1.50. The business has a 50-day simple moving average of $180.28 and a 200 day simple moving average of $141.42.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. Onto Innovation had a return on equity of 13.11% and a net margin of 17.46%.The business had revenue of $218.19 million for the quarter, compared to analyst estimates of $220.23 million. During the same quarter in the prior year, the company earned $1.34 earnings per share. The company’s quarterly revenue was down 13.5% on a year-over-year basis. On average, sell-side analysts expect that Onto Innovation will post 6.26 EPS for the current year.

Institutional Trading of Onto Innovation

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Onto Innovation by 1.5% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 4,974 shares of the semiconductor company’s stock valued at $643,000 after purchasing an additional 75 shares in the last quarter. Amalgamated Bank grew its holdings in Onto Innovation by 0.3% during the third quarter. Amalgamated Bank now owns 22,663 shares of the semiconductor company’s stock worth $2,929,000 after buying an additional 79 shares in the last quarter. Campbell Newman Asset Management Inc. raised its position in Onto Innovation by 0.4% in the 3rd quarter. Campbell Newman Asset Management Inc. now owns 18,880 shares of the semiconductor company’s stock valued at $2,440,000 after buying an additional 80 shares during the last quarter. Palisades Investment Partners LLC lifted its stake in Onto Innovation by 0.4% during the 3rd quarter. Palisades Investment Partners LLC now owns 20,206 shares of the semiconductor company’s stock valued at $2,611,000 after acquiring an additional 84 shares in the last quarter. Finally, Brighton Jones LLC lifted its stake in Onto Innovation by 1.4% during the 3rd quarter. Brighton Jones LLC now owns 6,349 shares of the semiconductor company’s stock valued at $820,000 after acquiring an additional 87 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

About Onto Innovation

Onto Innovation (NYSE:ONTO) is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company’s solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.