Onto Innovation Inc. (NYSE:ONTO) Receives $254.29 Consensus Price Target from Analysts

Shares of Onto Innovation Inc. (NYSE:ONTO) have received an average recommendation of “Buy” from the seven analysts that are covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have covered the stock in the last year is $254.29.

Several equities analysts recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and set a $230.00 target price on shares of Onto Innovation in a research note on Friday, November 1st. Needham & Company LLC decreased their target price on Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Jefferies Financial Group cut their price target on Onto Innovation from $265.00 to $245.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, Oppenheimer increased their target price on Onto Innovation from $260.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, November 1st.

Onto Innovation Stock Down 3.8 %

Shares of NYSE:ONTO opened at $158.54 on Friday. The stock has a market capitalization of $7.83 billion, a PE ratio of 42.96, a price-to-earnings-growth ratio of 1.02 and a beta of 1.37. The firm’s 50 day moving average price is $196.76 and its 200-day moving average price is $206.08. Onto Innovation has a twelve month low of $131.78 and a twelve month high of $238.93.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. The firm had revenue of $252.20 million during the quarter, compared to the consensus estimate of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 EPS. Analysts expect that Onto Innovation will post 5.19 earnings per share for the current fiscal year.

Insider Transactions at Onto Innovation

In other Onto Innovation news, SVP Srinivas Vedula sold 1,275 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $207.24, for a total value of $264,231.00. Following the completion of the sale, the senior vice president now directly owns 16,050 shares in the company, valued at approximately $3,326,202. This trade represents a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Onto Innovation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its holdings in Onto Innovation by 386.3% during the first quarter. SG Americas Securities LLC now owns 7,406 shares of the semiconductor company’s stock worth $1,341,000 after buying an additional 5,883 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Onto Innovation during the 1st quarter worth about $204,000. Headlands Technologies LLC acquired a new stake in shares of Onto Innovation during the 1st quarter valued at about $90,000. ProShare Advisors LLC increased its stake in shares of Onto Innovation by 7.2% in the 1st quarter. ProShare Advisors LLC now owns 12,478 shares of the semiconductor company’s stock valued at $2,260,000 after purchasing an additional 833 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in Onto Innovation by 27.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,789 shares of the semiconductor company’s stock worth $3,221,000 after purchasing an additional 3,800 shares during the period. 98.35% of the stock is owned by institutional investors and hedge funds.

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.