Analysts Set Onto Innovation Inc. (NYSE:ONTO) Target Price at $191.60

Shares of Onto Innovation Inc. (NYSE:ONTO) have been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $191.60.

A number of brokerages recently weighed in on ONTO. StockNews.com raised Onto Innovation from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Evercore ISI started coverage on shares of Onto Innovation in a report on Tuesday, April 16th. They issued an “outperform” rating and a $235.00 price objective for the company. B. Riley increased their target price on shares of Onto Innovation from $195.00 to $205.00 and gave the company a “buy” rating in a report on Friday, February 9th. Benchmark boosted their price target on shares of Onto Innovation from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Finally, Stifel Nicolaus raised their price objective on Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, March 25th.

Insider Buying and Selling at Onto Innovation

In related news, Director David Brian Miller sold 2,800 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $170.49, for a total transaction of $477,372.00. Following the transaction, the director now owns 9,008 shares in the company, valued at approximately $1,535,773.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director David Brian Miller sold 2,800 shares of Onto Innovation stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total value of $477,372.00. Following the sale, the director now owns 9,008 shares in the company, valued at $1,535,773.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael P. Plisinski sold 40,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the transaction, the chief executive officer now directly owns 235,492 shares in the company, valued at $41,324,136.16. The disclosure for this sale can be found here. Insiders sold 47,170 shares of company stock valued at $8,266,955 in the last quarter. Company insiders own 0.72% of the company’s stock.

Institutional Trading of Onto Innovation

Several institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC lifted its position in Onto Innovation by 141.3% during the third quarter. CWM LLC now owns 1,559 shares of the semiconductor company’s stock valued at $199,000 after buying an additional 913 shares during the period. Linden Thomas Advisory Services LLC purchased a new position in Onto Innovation during the 3rd quarter valued at about $1,531,000. Raymond James & Associates boosted its stake in Onto Innovation by 72.3% during the third quarter. Raymond James & Associates now owns 5,724 shares of the semiconductor company’s stock worth $730,000 after acquiring an additional 2,401 shares in the last quarter. Shaker Investments LLC OH purchased a new stake in Onto Innovation in the third quarter worth about $298,000. Finally, Brown Advisory Inc. increased its stake in shares of Onto Innovation by 39.7% during the third quarter. Brown Advisory Inc. now owns 536,954 shares of the semiconductor company’s stock valued at $68,472,000 after purchasing an additional 152,481 shares in the last quarter. 98.35% of the stock is currently owned by hedge funds and other institutional investors.

Onto Innovation Price Performance

Shares of Onto Innovation stock opened at $185.47 on Monday. Onto Innovation has a 1 year low of $80.17 and a 1 year high of $199.72. The firm has a market cap of $9.11 billion, a PE ratio of 75.39 and a beta of 1.40. The company has a 50 day simple moving average of $183.07 and a two-hundred day simple moving average of $158.16.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The company had revenue of $219.00 million during the quarter, compared to the consensus estimate of $209.06 million. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The firm’s revenue was down 13.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.57 EPS. As a group, research analysts anticipate that Onto Innovation will post 4.7 earnings per share for the current year.

About Onto Innovation

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.