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

Onto Innovation Inc. (NYSE:ONTO) has been assigned an average rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $118.33.

ONTO has been the subject of several recent analyst reports. Needham & Company LLC lowered shares of Onto Innovation from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Jefferies Financial Group lifted their target price on Onto Innovation from $100.00 to $123.00 in a research report on Monday, June 5th. B. Riley lifted their target price on Onto Innovation from $135.00 to $140.00 in a research report on Monday, July 17th. Stifel Nicolaus lifted their price target on shares of Onto Innovation from $124.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. Finally, Benchmark raised their target price on shares of Onto Innovation from $118.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 11th.

Insider Activity

In other news, CEO Michael P. Plisinski sold 31,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $112.85, for a total transaction of $3,498,350.00. Following the completion of the transaction, the chief executive officer now directly owns 251,794 shares in the company, valued at $28,414,952.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Michael P. Plisinski sold 31,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $112.85, for a total transaction of $3,498,350.00. Following the completion of the transaction, the chief executive officer now directly owns 251,794 shares in the company, valued at $28,414,952.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Srinivas Vedula sold 1,469 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $137.00, for a total transaction of $201,253.00. Following the completion of the sale, the senior vice president now directly owns 17,976 shares of the company’s stock, valued at approximately $2,462,712. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Onto Innovation

A number of institutional investors have recently added to or reduced their stakes in ONTO. Portside Wealth Group LLC acquired a new stake in Onto Innovation in the 2nd quarter valued at about $889,000. Teachers Retirement System of The State of Kentucky lifted its holdings in Onto Innovation by 164.3% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 39,061 shares of the semiconductor company’s stock valued at $4,549,000 after acquiring an additional 24,282 shares during the last quarter. Legato Capital Management LLC lifted its holdings in Onto Innovation by 36.2% in the 2nd quarter. Legato Capital Management LLC now owns 16,836 shares of the semiconductor company’s stock valued at $1,961,000 after acquiring an additional 4,477 shares during the last quarter. Orion Portfolio Solutions LLC lifted its holdings in Onto Innovation by 20.1% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 10,453 shares of the semiconductor company’s stock valued at $1,217,000 after acquiring an additional 1,749 shares during the last quarter. Finally, Castleark Management LLC acquired a new stake in Onto Innovation in the 2nd quarter valued at about $4,386,000. 94.78% of the stock is currently owned by institutional investors and hedge funds.

Onto Innovation Stock Down 4.2 %

Shares of NYSE ONTO opened at $124.39 on Friday. Onto Innovation has a fifty-two week low of $56.02 and a fifty-two week high of $142.26. The business has a 50 day moving average price of $118.68 and a two-hundred day moving average price of $102.48. The firm has a market cap of $6.11 billion, a PE ratio of 35.44 and a beta of 1.36.

Onto Innovation (NYSE:ONTO) last announced its quarterly earnings data on Thursday, August 10th. The semiconductor company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.04). The company had revenue of $190.66 million for the quarter, compared to analyst estimates of $203.00 million. Onto Innovation had a return on equity of 14.20% and a net margin of 19.32%. Onto Innovation’s revenue was down 25.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.28 earnings per share. On average, analysts anticipate that Onto Innovation will post 3.64 earnings per share for the current year.

About Onto Innovation

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs macro defect inspection and 2D/3D optical metrology, lithography systems, and process control analytical software worldwide. It 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; and process control software portfolio that includes solutions for standalone tools, groups of tools, and enterprise-or factory-wide suites.