Onto Innovation Inc. (NYSE:ONTO) Given Consensus Rating of “Buy” by Analysts

Onto Innovation Inc. (NYSE:ONTO) has been assigned an average rating of “Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $315.00.

Several brokerages have recently commented on ONTO. Weiss Ratings upgraded shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. B. Riley Financial lifted their price target on shares of Onto Innovation from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Needham & Company LLC lifted their price target on shares of Onto Innovation from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Oppenheimer reiterated an “outperform” rating on shares of Onto Innovation in a research report on Monday, June 1st. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $350.00 price target on shares of Onto Innovation in a research report on Wednesday, May 6th.

Onto Innovation Price Performance

Shares of NYSE:ONTO opened at $323.62 on Friday. Onto Innovation has a one year low of $89.40 and a one year high of $326.96. The company has a 50 day moving average of $270.56 and a 200-day moving average of $217.77. The stock has a market cap of $16.10 billion, a price-to-earnings ratio of 151.23, a P/E/G ratio of 1.24 and a beta of 1.62.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.38 by $0.04. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The company had revenue of $291.95 million during the quarter, compared to analysts’ expectations of $292.00 million. During the same quarter in the previous year, the company earned $1.51 EPS. Onto Innovation’s revenue was up 9.5% on a year-over-year basis. Equities research analysts anticipate that Onto Innovation will post 7.11 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Root Financial Partners LLC grew its holdings in Onto Innovation by 71.2% during the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 74 shares during the period. Transamerica Financial Advisors LLC grew its holdings in Onto Innovation by 188.5% during the fourth quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 115 shares during the period. Millstone Evans Group LLC grew its holdings in Onto Innovation by 147.8% during the first quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 99 shares during the period. CIBC Private Wealth Group LLC grew its holdings in Onto Innovation by 109.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 245 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 128 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in Onto Innovation during the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 98.35% of the company’s stock.

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.