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

Shares of Onto Innovation Inc. (NYSE:ONTO) have earned an average rating 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 rating and four have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $191.60.

ONTO has been the topic of a number of recent research reports. Benchmark increased their price target 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. Evercore ISI initiated coverage on shares of Onto Innovation in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $235.00 price objective for the company. B. Riley lifted their target price on shares of Onto Innovation from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. StockNews.com raised shares of Onto Innovation from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. 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.

Onto Innovation Stock Performance

Shares of NYSE:ONTO opened at $200.82 on Monday. The firm has a market capitalization of $9.87 billion, a PE ratio of 81.63 and a beta of 1.40. Onto Innovation has a 52-week low of $80.17 and a 52-week high of $204.39. The firm has a fifty day moving average of $183.42 and a 200 day moving average of $158.42.

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

Insider Activity at Onto Innovation

In other Onto Innovation news, VP Yoon Ah Oh sold 2,685 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $173.96, for a total transaction of $467,082.60. Following the completion of the sale, the vice president now owns 16,598 shares of the company’s stock, valued at approximately $2,887,388.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Michael P. Plisinski sold 40,000 shares of Onto Innovation 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 sale, the chief executive officer now directly owns 235,492 shares in the company, valued at approximately $41,324,136.16. The sale was disclosed in a filing with the SEC, which is available through 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 transaction, the vice president now directly owns 16,598 shares in the company, valued at $2,887,388.08. The disclosure for this sale can be found here. Insiders sold 47,170 shares of company stock worth $8,266,955 in the last three months. 0.72% of the stock is owned by insiders.

Institutional Trading of Onto Innovation

Several large investors have recently added to or reduced their stakes in ONTO. Fifth Third Bancorp raised its holdings in Onto Innovation by 198.3% in the 4th quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 115 shares in 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. Fidelis Capital Partners LLC bought a new position in Onto Innovation in the first quarter worth about $28,000. Huntington National Bank lifted its holdings in Onto Innovation by 70.3% in the third quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock worth $31,000 after buying an additional 102 shares during the period. Finally, GAMMA Investing LLC bought a new stake in Onto Innovation during the 4th quarter valued at approximately $33,000. 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.