Onto Innovation Inc. (NYSE:ONTO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Onto Innovation Inc. (NYSE:ONTO) have been assigned an average rating of “Moderate Buy” from the thirteen research firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $339.60.

Several research firms recently commented on ONTO. Oppenheimer boosted their price target on Onto Innovation from $370.00 to $450.00 and gave the stock an “outperform” rating in a research report on Monday, June 22nd. Evercore reiterated an “outperform” rating and set a $315.00 price objective on shares of Onto Innovation in a research note on Friday, April 17th. Deutsche Bank Aktiengesellschaft started coverage on shares of Onto Innovation in a research report on Friday, June 5th. They set a “buy” rating and a $350.00 target price on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $350.00 price target on shares of Onto Innovation in a report on Wednesday, May 6th. Finally, 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 note on Monday, April 13th.

Onto Innovation Price Performance

NYSE:ONTO opened at $279.23 on Wednesday. The business’s 50-day moving average is $293.44 and its two-hundred day moving average is $239.30. The firm has a market capitalization of $13.89 billion, a PE ratio of 130.48, a price-to-earnings-growth ratio of 1.24 and a beta of 1.55. Onto Innovation has a 12 month low of $89.40 and a 12 month high of $386.46.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.04. Onto Innovation had a return on equity of 11.68% and a net margin of 10.32%.The company had revenue of $291.95 million during the quarter, compared to the consensus estimate of $292.00 million. During the same quarter in the prior year, the business earned $1.51 earnings per share. The company’s revenue was up 9.5% compared to the same quarter last year. Equities analysts anticipate that Onto Innovation will post 7.14 EPS for the current year.

Institutional Trading of Onto Innovation

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Root Financial Partners LLC lifted its stake in shares of Onto Innovation by 71.2% in the fourth quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 74 shares in the last quarter. Transamerica Financial Advisors LLC grew its stake in Onto Innovation by 188.5% during the 4th 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 in the last quarter. Millstone Evans Group LLC increased its holdings in Onto Innovation by 147.8% during the 1st quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 99 shares during the last quarter. CoreCap Advisors LLC acquired a new position in shares of Onto Innovation in the 2nd quarter valued at approximately $38,000. Finally, CIBC Private Wealth Group LLC raised its position in shares of Onto Innovation by 109.4% in the 4th 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 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.