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

Shares of Onto Innovation Inc. (NYSE:ONTO) have earned an average recommendation of “Buy” from the six research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $62.25.

ONTO has been the topic of a number of recent research reports. Needham & Company LLC lifted their price objective on Onto Innovation from $61.00 to $68.00 and gave the company a “buy” rating in a report on Friday, February 5th. Zacks Investment Research downgraded Onto Innovation from a “buy” rating to a “hold” rating and set a $57.00 price objective on the stock. in a report on Monday, February 1st. Finally, B. Riley lifted their price objective on Onto Innovation from $73.00 to $74.00 and gave the company a “buy” rating in a report on Friday, February 5th.

In other Onto Innovation news, CFO Steven R. Roth sold 10,000 shares of the company’s stock in a transaction on Monday, January 11th. The shares were sold at an average price of $50.64, for a total transaction of $506,400.00. Following the completion of the sale, the chief financial officer now owns 41,984 shares in the company, valued at approximately $2,126,069.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert Alan Koch sold 15,000 shares of the company’s stock in a transaction on Monday, December 14th. The shares were sold at an average price of $46.61, for a total transaction of $699,150.00. Following the sale, the vice president now owns 41,295 shares of the company’s stock, valued at approximately $1,924,759.95. The disclosure for this sale can be found here. Insiders sold a total of 214,601 shares of company stock valued at $12,637,606 in the last 90 days. 3.30% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of ONTO. Raymond James & Associates acquired a new position in shares of Onto Innovation in the 3rd quarter valued at $1,722,000. First Trust Advisors LP acquired a new position in shares of Onto Innovation in the 3rd quarter valued at $213,000. Aperio Group LLC acquired a new position in shares of Onto Innovation in the 3rd quarter valued at $493,000. Paradigm Capital Management Inc. NY acquired a new position in shares of Onto Innovation in the 4th quarter valued at $60,164,000. Finally, Value Holdings Management CO. LLC acquired a new position in shares of Onto Innovation in the 3rd quarter valued at $5,652,000. Institutional investors own 91.49% of the company’s stock.

ONTO stock traded down $2.06 during trading on Tuesday, reaching $62.26. 450,474 shares of the stock were exchanged, compared to its average volume of 365,616. Onto Innovation has a twelve month low of $20.32 and a twelve month high of $66.95. The company has a market capitalization of $3.04 billion, a P/E ratio of -328.84 and a beta of 1.28. The stock has a 50 day simple moving average of $57.61 and a 200-day simple moving average of $46.24.

Onto Innovation (NYSE:ONTO) last released its earnings results on Thursday, February 4th. The semiconductor company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.12. Onto Innovation had a positive return on equity of 6.32% and a negative net margin of 1.27%. Equities research analysts expect that Onto Innovation will post 1.81 EPS for the current fiscal year.

Onto Innovation Company Profile

Onto Innovation Inc designs, develops, manufactures, and supports process control tools that performs macro-defect inspection and metrology, lithography systems, and process control analytical software used by semiconductor and advanced packaging device manufacturers worldwide. The company offers process and yield management solutions used in bare silicon wafer production and processing facilities, and device packaging and test facilities through standalone systems for macro-defect inspection, packaging lithography, probe card test and analysis, and transparent and opaque thin film measurements.

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