Onto Innovation (NYSE:ONTO) Research Coverage Started at Evercore ISI

Evercore ISI initiated coverage on shares of Onto Innovation (NYSE:ONTO) in a report published on Tuesday morning, MarketBeat reports. The brokerage issued an outperform rating and a $235.00 target price on the semiconductor company’s stock.

Several other analysts have also recently weighed in on the stock. Benchmark raised their price objective on shares of Onto Innovation from $145.00 to $180.00 and gave the company a buy rating in a research report on Friday, February 9th. B. Riley raised their price objective on shares of Onto Innovation from $195.00 to $205.00 and gave the company a buy rating in a research report on Friday, February 9th. StockNews.com upgraded shares of Onto Innovation from a sell rating to a hold rating in a research report on Monday, February 12th. Finally, Stifel Nicolaus lifted their target price on shares of Onto Innovation from $188.00 to $215.00 and gave the stock a buy rating in a research report on Monday, March 25th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Onto Innovation has a consensus rating of Moderate Buy and a consensus price target of $191.60.

Onto Innovation Price Performance

Shares of NYSE:ONTO opened at $169.39 on Tuesday. The firm has a fifty day moving average price of $181.80 and a two-hundred day moving average price of $155.38. The company has a market cap of $8.32 billion, a price-to-earnings ratio of 68.86 and a beta of 1.40. Onto Innovation has a one year low of $76.40 and a one year high of $199.72.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, February 8th. The semiconductor company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.07. The firm had revenue of $219.00 million for the quarter, compared to analysts’ expectations of $209.06 million. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The business’s quarterly revenue was down 13.5% on a year-over-year basis. During the same quarter last year, the company posted $1.57 EPS. Equities research analysts expect that Onto Innovation will post 4.7 EPS for the current fiscal year.

Insider Buying and Selling

In other Onto Innovation news, Director David Brian Miller sold 2,800 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total value of $477,372.00. Following the transaction, the director now owns 9,008 shares in the company, valued at $1,535,773.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director David Brian Miller sold 2,800 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $170.49, for a total transaction of $477,372.00. Following the completion of the transaction, the director now directly owns 9,008 shares of the company’s stock, valued at $1,535,773.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Yoon Ah Oh sold 1,685 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $180.00, for a total transaction of $303,300.00. Following the transaction, the vice president now directly owns 14,913 shares of the company’s stock, valued at $2,684,340. The disclosure for this sale can be found here. Insiders have sold a total of 47,170 shares of company stock worth $8,266,955 in the last 90 days. 0.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On Onto Innovation

Hedge funds and other institutional investors have recently modified their holdings of the company. Fifth Third Bancorp raised its stake in shares of Onto Innovation by 198.3% during the fourth quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 115 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in shares of Onto Innovation during the fourth quarter valued at about $28,000. GAMMA Investing LLC purchased a new position in shares of Onto Innovation during the fourth quarter valued at about $33,000. Rise Advisors LLC purchased a new position in shares of Onto Innovation during the first quarter valued at about $38,000. Finally, Huntington National Bank increased its position in shares of Onto Innovation by 70.3% during the third quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 102 shares during the period. 98.35% of the stock is owned by 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.