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

Shares of Onto Innovation Inc. (NYSE:ONTO) have been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $177.14.

Several research firms recently commented on ONTO. Oppenheimer dropped their price target on Onto Innovation from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, May 9th. Benchmark lowered their price objective on shares of Onto Innovation from $230.00 to $190.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Cantor Fitzgerald restated a “neutral” rating and set a $135.00 price target (down previously from $250.00) on shares of Onto Innovation in a research note on Monday, May 5th. Needham & Company LLC reduced their price target on Onto Innovation from $230.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Finally, Jefferies Financial Group lowered their target price on shares of Onto Innovation from $245.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, March 28th.

Onto Innovation Stock Up 6.1%

NYSE:ONTO opened at $99.19 on Friday. The business’s 50-day simple moving average is $122.48 and its two-hundred day simple moving average is $158.30. Onto Innovation has a 52 week low of $85.88 and a 52 week high of $238.93. The stock has a market cap of $4.84 billion, a PE ratio of 24.43, a P/E/G ratio of 0.89 and a beta of 1.55.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.04. The firm had revenue of $267.00 million during the quarter, compared to analyst estimates of $267.03 million. Onto Innovation had a return on equity of 14.24% and a net margin of 20.43%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.18 earnings per share. Sell-side analysts anticipate that Onto Innovation will post 6.26 earnings per share for the current fiscal year.

Institutional Trading of Onto Innovation

Large investors have recently made changes to their positions in the business. Kestra Investment Management LLC purchased a new position in shares of Onto Innovation during the 4th quarter valued at approximately $26,000. Mather Group LLC. grew its holdings in Onto Innovation by 209.4% in the 4th quarter. Mather Group LLC. now owns 164 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 111 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Onto Innovation by 177.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 236 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 151 shares during the period. Banque Cantonale Vaudoise purchased a new stake in Onto Innovation in the first quarter valued at $29,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Onto Innovation by 79.4% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 244 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 108 shares during the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

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.