Onto Innovation Inc. (NYSE:ONTO) Receives $310.63 Consensus PT from Analysts

Onto Innovation Inc. (NYSE:ONTO) has been assigned a consensus recommendation of “Buy” from the ten analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $310.6250.

Several research firms have commented on ONTO. Cantor Fitzgerald increased their price objective on shares of Onto Innovation from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, April 6th. Weiss Ratings raised shares of Onto Innovation from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Wall Street Zen raised shares of Onto Innovation from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Oppenheimer set a $370.00 price objective on shares of Onto Innovation in a report on Wednesday, May 6th. Finally, Stifel Nicolaus set a $350.00 price objective on shares of Onto Innovation and gave the company a “buy” rating in a report on Friday, April 17th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millstone Evans Group LLC boosted its holdings in shares of Onto Innovation by 147.8% during the 1st 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 last quarter. Transamerica Financial Advisors LLC lifted its holdings in shares of Onto Innovation by 188.5% in the 4th quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 115 shares during the last quarter. Root Financial Partners LLC lifted its holdings in shares of Onto Innovation by 71.2% in the 4th quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 74 shares during the last quarter. Westside Investment Management Inc. lifted its holdings in shares of Onto Innovation by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 198 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 99 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings 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 acquiring an additional 128 shares during the last quarter. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Performance

Shares of Onto Innovation stock opened at $262.05 on Tuesday. The company has a market capitalization of $13.03 billion, a P/E ratio of 122.45, a P/E/G ratio of 1.28 and a beta of 1.70. The company has a fifty day moving average of $249.36 and a 200 day moving average of $202.86. Onto Innovation has a fifty-two week low of $89.40 and a fifty-two week high of $316.00.

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 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 the consensus estimate of $292.00 million. During the same quarter in the prior year, the firm posted $1.51 EPS. Onto Innovation’s quarterly revenue was up 9.5% compared to the same quarter last year. Analysts forecast that Onto Innovation will post 6.83 EPS for the current year.

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.