Onto Innovation Inc. (NYSE:ONTO) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Onto Innovation Inc. (NYSE:ONTO) have been assigned an average rating of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $242.00.

Several analysts recently commented on the company. Needham & Company LLC restated a “hold” rating on shares of Onto Innovation in a research report on Friday, May 10th. StockNews.com upgraded shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. B. Riley upped their price objective on shares of Onto Innovation from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Benchmark upped their price objective on shares of Onto Innovation from $180.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Finally, Stifel Nicolaus upped their price objective on shares of Onto Innovation from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, March 25th.

Onto Innovation Price Performance

ONTO stock opened at $227.75 on Friday. The firm has a fifty day moving average price of $194.21 and a two-hundred day moving average price of $169.08. Onto Innovation has a 1-year low of $94.83 and a 1-year high of $238.13. The firm has a market cap of $11.22 billion, a price-to-earnings ratio of 81.05 and a beta of 1.40.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.08. The business had revenue of $228.80 million for the quarter, compared to analysts’ expectations of $222.60 million. Onto Innovation had a return on equity of 11.48% and a net margin of 16.43%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS. As a group, analysts expect that Onto Innovation will post 5.01 EPS for the current fiscal year.

Insider Activity

In other news, VP Yoon Ah Oh sold 2,685 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $173.96, for a total value of $467,082.60. Following the transaction, the vice president now owns 16,598 shares in the company, valued at approximately $2,887,388.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Michael P. Plisinski sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total value of $7,019,200.00. Following the completion of the sale, the chief executive officer now owns 235,492 shares of the company’s stock, valued at approximately $41,324,136.16. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Yoon Ah Oh sold 2,685 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $173.96, for a total value of $467,082.60. Following the completion of the sale, the vice president now directly owns 16,598 shares of the company’s stock, valued at approximately $2,887,388.08. The disclosure for this sale can be found here. Insiders have sold 44,370 shares of company stock worth $7,789,583 in the last 90 days. Company insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Onto Innovation

Large investors have recently made changes to their positions in the company. Vontobel Holding Ltd. boosted its position in Onto Innovation by 1.2% during the fourth quarter. Vontobel Holding Ltd. now owns 6,535 shares of the semiconductor company’s stock worth $999,000 after purchasing an additional 75 shares during the period. Campbell Newman Asset Management Inc. boosted its position in Onto Innovation by 0.4% during the fourth quarter. Campbell Newman Asset Management Inc. now owns 18,538 shares of the semiconductor company’s stock worth $2,834,000 after purchasing an additional 78 shares during the period. GAMMA Investing LLC boosted its position in Onto Innovation by 41.1% during the first quarter. GAMMA Investing LLC now owns 292 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 85 shares during the period. Natixis Advisors L.P. boosted its position in Onto Innovation by 0.5% during the fourth quarter. Natixis Advisors L.P. now owns 17,473 shares of the semiconductor company’s stock worth $2,671,000 after purchasing an additional 90 shares during the period. Finally, Huntington National Bank boosted its position in Onto Innovation by 70.3% during the third quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 102 shares during the period. Institutional investors own 98.35% of the company’s stock.

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.